Confidence Interval
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Confidence Interval
In statistics, a range of values which is believed to include, with a
preassigned degree of confidence (confidence
level), the true characteristic of the lot or universe a given percentage
of the time.
For example: 95-percent confidence limits for a sample of 10 with a
ratio of successes to total number tested of 0.9 (9 successes and 1 failure)
would be 0.54 to 1.0. That is, even with an observed success ratio of 0.9 (90
percent) the best that can be said is that the true ratio lies between 0.54
(54 percent) and 1.0 (100 percent) an estimated 95 percent of the time.
References
This article is based on NASA's Dictionary of Technical Terms for Aerospace Use