Posted: May 22nd, 2023
A confidence interval (CI) is used to indicate the reliability of an estimate. There are two types of CIs, that is, interval estimate and point estimate, and both of these can be used to estimate the mean for a population sample. These two forms of confidence intervals are computed from observations and differ from dataset to dataset, but frequently include the parameter of interest, and should be obtained within specified errors of margin if the experiment is repeated. An error of margin is a parameter that is used to indicate the random sampling error in an experimental survey. The larger the value, the less reliable the estimate for the parameter is, in this case the mean.
Place an order in 3 easy steps. Takes less than 5 mins.