3 ms·
The strong benefit of confidence intervals is that they are empirically verifiable. If you go back and look at your past 90 % estimates and you find that not ro
by kqr 5y ago
The strong benefit of confidence intervals is that they are empirically verifiable. If you go back and look at your past 90 % estimates and you find that not roughly 9 out of 10 were correct, you need to revise your process.
Averages of averages lack this very practical, immediate interpretation.