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Results tagged with confidence-interval
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user 257489
A confidence interval is an interval that covers an unknown parameter with $100(1-\alpha)\%$ confidence. Confidence intervals are a frequentist concept. They are often confused with credible intervals which is the Bayesian analog.
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Determining the significance of rare events
We have been having a discussion about the significance of 2 accidents.
If I have 2 groups:
Group 1 is a baseline where an accident has occurred 70 times in
3,500,000 and
Group 2 where an accident h …
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