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Is exact binomial confidence interval only appropriate for extremely rare events or extremely frequent events? If so, what are the rule of thumb for the definitions of extremely rare (<0.01?) And is it correct to use simulation to prove it?

Thanks!

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  • $\begingroup$ Should be "The exact binomial confidence interval only available for extremely rare events or extremely frequent events". $\endgroup$ – user158565 Dec 4 '18 at 1:21
  • $\begingroup$ sorry I did not get it. Why using available? $\endgroup$ – AI2.0 Dec 4 '18 at 1:23
  • $\begingroup$ because if not extreme, it is still take long time to get exact CI using current computer. If you can get exact CI, I think it is better than approximated CI. $\endgroup$ – user158565 Dec 4 '18 at 1:24

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