Big Data – Blog by YY
Introduction to Data 2
In this weekly blog, I am gonna introduce a term “confidence interval,” and “confidence level.”
Confidence interval(CI), being used to address issues, if mean data is taken within random sample from messy population, then statisticians might ask questions, like, “How well the sample statistics is against underlying population value,” will provides a ranges of values that might contain parameter of interest.
Confidence level(CF), the elements constructs Confidence interval.
For example, if CF being set 95%, it means that if the same population being sampled on various circumstances and intervals are made for each, the resulting intervals bracket the true population parameter into around 95% within the cases.