intrvel estimate can be contrasted with point estmate. A point estimate is a single value given as the estimate of a population parameterm. For example the mean of some quantity. An interval estimate specifies instead a range within which the parameter is estimated . Confidence intervals are commonly reported in tables or graphs along with point estimates of the same parameters to show the reliability of the estimate.
For example, a confidence interval can be used to describe how reliable survey results are. In a poll of election voting-intentions, the result might be that 40% of respondents intend to vote for a certain party. A 99% confidence interval for the proportion in the whole population having the same intention on the survey 30% to 50%. From the same data one may calculate a 90% confidence interval which in this case might be 37% to 43%. A major factor determining the length of a confidence interval is( the size of the sample) used in the estimation procedure. For example the number of people taking part in a survey.,,,,,,,,,,,,,,,,,,,,,
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Apr 10th, 2015
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