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It's not a confidence interval, it's a credible interval. It's derived from a Bayesian posterior. Confidence intervals are confusing and should rarely be used
by yummyfajitas 11y ago
It's not a confidence interval, it's a credible interval. It's derived from a Bayesian posterior.
Confidence intervals are confusing and should rarely be used to communicate statistics to laypeople. (See the links in my above post.) Most of the time, you can tell people the definition of a confidence interval, and they will misinterpret this and think it's a credible interval.
This is why we went Bayesian at VWO - we felt it would be easier to change the statistics to match people's thinking than to change people's thinking about statistics.