7.5
The confidence interval provides a reliable estimate of the population parameter that could be straightforward to calculate but often difficult to interpret.
Suppose we calculate the confidence interval at a 95% level. One may conclude that there is a 95% chance to find the true population parameter value within the calculated interval or a 95% probability that the calculated sample parameter value matches the true population parameter value.
This could be wrong, as the confidence limits calculated here are drawn from a single sample, which makes it unreliable.
Also, the true value of the population parameter is fixed, which may lie within or outside these limits.
A confidence interval at a 95% level means that if we obtain many confidence intervals using an identical sampling method, 95% of them would contain the true value of the population parameter.
In terms of statistical significance, it means that when the confidence interval is calculated at the 95% level, the confidence interval values are not statistically significantly different from each other and from the point estimate at 0.05.
Een betrouwbaarheidsinterval is een nauwkeurigere schatting van de populatieparameter dan een puntschatting, omdat het een reeks waarden uit een steek…
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