Question

Confidence intervals for the means provide an estimate for where the true mean lies.

Answer 1

It is true that the confidence intervals for the mean provide an estimate for where the true mean lies.

In statistics, a confidence interval denotes the likelihood that a population parameter will fall between a set of values for a given proportion of the time. A confidence interval depicts the likelihood that a parameter will fall between two values near the mean. Confidence intervals quantify the degree of uncertainty or certainty in a sampling procedure.

The mean is a basic mathematical average of two or more values. There are two sorts of means that may be calculated: the arithmetic mean and the geometric mean. A mean tells you the average of a bunch of values, which helps you contextualize each data point.

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