Confidence Intervals

In statistics, a confidence interval is a range of values that is likely to contain an unknown population parameter with a certain level of confidence. The level of confidence is typically expressed as a percentage and represents the probability that the true parameter lies within the interval. Confidence intervals are commonly used in data science to estimate the precision of sample statistics and to make inferences about population parameters. They are calculated using sample data and statistical methods, and the width of the interval is affected by the sample size, variability, and level of confidence chosen. A narrower interval indicates a more precise estimate, while a wider interval indicates more uncertainty.
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