| 1. | confidence interval | ||
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(STATISTICS) a range of values for which you are x percent confident contains the correct answer. Answers to a statistical question which are ranged from the lowest likely value to the highest; answers outside of this range are highly unlikely. Presupposes that you are estimating a value based on sample data, and the sample data has a genuinely random variance. Usually the confidence interval is for a 95% confidence, meaning there is only a 5% probability that the true value is OUTSIDE the interval. ANNA: I've been driving your car for about a month.
JAMES: And what you think is the MPG? ANNA: It's probably about 25 MPG, with a 95% confidence interval of 19.5 to 32 MPG. JAMES: Holy cow! Any Prussians in your family tree? |
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