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We were forced not to think in probabilities during my econometrics education if we talked about confidence intervals. Say you have a confidence interval of 95
by bartkappenburg 12y ago
We were forced not to think in probabilities during my econometrics education if we talked about confidence intervals.
Say you have a confidence interval of 95% or higher (p value <= 5%), then the right thing to say is:
95% of the variance within the data is explained by the model (you've come up with).
- Paradigma11 12y agoIn my opinion the most useful answer would be, for example a mean: The mean is within this interval. We used a model that has this properties, 95% of the... I think it is ridiculous that the main focus always seems to be arcane properties of the statistical algorithm and not the answer that it delivers.