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How Do You Interpret A Confidence Interval?, Paul Savory
How Do You Interpret A Confidence Interval?, Paul Savory
Industrial and Management Systems Engineering: Instructional Materials
A confidence interval (CI) is an interval estimate of a population parameter. Instead of estimating the parameter by a single value, a point estimate, an interval likely to cover the parameter is developed. Many student incorrectly interpret the meaning of a confidence interval. This paper offers a quick overview of how to correctly interpret a confidence interval.