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PCSL
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Any resources you can recommend? Preferably online but I'm not against stopping by the library if need be. Thank you.
A confidence level interval is a range of values that is likely to include the true population parameter with a certain level of confidence. It is calculated based on a sample of data and is typically expressed as a percentage, such as 95% or 99%.
A confidence level interval is calculated using a formula that takes into account the sample size, standard deviation, and the desired level of confidence. The most commonly used formula is the Wald interval, which assumes a normal distribution of the data.
The confidence level in a confidence interval indicates the level of certainty that the true population parameter falls within the calculated interval. For example, a 95% confidence interval means that if we were to repeat the study multiple times, we would expect 95% of the intervals to contain the true population parameter.
No, a confidence level interval cannot be used to make predictions about individual cases. It only provides a range of values that is likely to include the true population parameter. Individual cases may fall outside of this range.
The larger the sample size, the narrower the confidence level interval. This is because a larger sample size provides more information about the population and reduces the margin of error in the calculation of the interval.