Statistical bases for defining level of assurance

T Schofield1

  • 1Department of Virus, Merck Research Laboratories, West Point, PA 19486, USA. tim_schofield@merck.com

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An unbiased point estimate is often insufficient to predict a population estimate, such as population mean or population proportion. In this scenario, a confidence interval is used. A confidence interval is an estimate similar to a sample proportion. However, unlike the point estimate which is a single value, the confidence interval contains a range of values. These values have lower and upper limits, known as confidence limits, and can be designated as L1 and L2, respectively.
A confidence...
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