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I recently read an online discussion about confidence levels and confidence intervals. To be honest, I'm confused. What's the bottom line there?
For a specific statement, say,
Foobar is 3.45 (with CI = [3.08, 3.82] at 99% confidence level)
my understanding is that if the experiment/measurement is done many times by drawing different random samples, then 99% of the times, the CI deduced based on each of the random sample will contain the true value of population statistic. But what exactly does the specific CI of [3.08, 3.82] mean? Is there any positive logic statement that can be made that use [3.08, 3.82] as a parameter?