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ML Academy

Introduced on day 4

Confidence interval

A range computed by a procedure that, over repeated samples, contains the true parameter a stated share of the time (for example 95%).

In detail

The 95% belongs to the procedure, not to one computed interval. Read the whole interval against the decision threshold: an interval spanning "not worth it" and "worth it" means the evidence is inconclusive. Not to be confused with a prediction interval for a single future observation (Day 26).