| Publisher | SAS Institute | ||
|---|---|---|---|
| Format | 1.1MB PDF | Date added | 01 Feb 2009 |
| Topics | Data Mining - Analysis | ||
| Downloads | 0 | ||
Statistical intervals can be confusing, even in the minds of those who use them often. This paper uses an example to describe the differences between confidence intervals, prediction intervals and tolerance intervals. Statistical intervals help to quantify the uncertainty surrounding the estimates that it calculates from data, such as the mean and standard deviation. The three types of intervals presented here - confidence, prediction and tolerance - are particularly relevant for applications found in science and engineering because they allows making very practical claims about sampled data. Because JMP makes it easy to obtain these intervals, all it has to do is apply them correctly.
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