Interpret confidence interval in context? Give an example of newspaper, website or any publication that used a confidence interval to make an inferences?
A confidence interval of the forecast is a range that likely contains the mean value of the dependent variable given specific values of the independent variables.
These intervals provide a range for the value asked.
Suppose a website is predicting the number of users they will have in the next year, they have applied some algorithms to do that and they come up with a result. It won't be a point estimate in most of the cases, it will be a range. Suppose they say that the number of users in the next year will be from 100 to 120 with a 95% confidence interval.
It means that they are 95% sure that it will lie in this range.
A lot of websites does that, Netflix and amazon is using this.
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