Advanced Design Strategy and Software
A confidence interval is a range of values that is used to estimate the true value of a population parameter, providing an interval estimate along with a specified level of confidence. This concept is crucial in statistical analysis as it helps assess the reliability and precision of estimates derived from sample data, indicating how much uncertainty is involved in the results. In the context of experimentation, like A/B testing and multivariate testing, confidence intervals help determine if observed differences between groups are statistically significant.
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