Why is Confidence Interval Important?
- Certainty Range: Confidence intervals offer a range of values that likely include the true population parameter, providing a measure of certainty in statistical estimation.
- Uncertainty Quantification: They quantify variability and potential estimation errors in sample data, helping researchers interpret results more cautiously.
- Comparison and Inference: Confidence intervals enable comparison between groups and inference about population parameters, guiding decision-making processes.
