The level of confidence represents how certain we are about our estimation made using a confidence interval. It is expressed as a percentage and indicates the probability that our interval contains the true population parameter.
Related terms
Significance Level: Also known as alpha, it represents the probability of rejecting a true null hypothesis in statistical hypothesis testing.
Confidence Level: The complement to alpha, it refers to one minus significance level and indicates how confident we are in our results.
Hypothesis Testing: A statistical method used to make decisions or draw conclusions about populations based on sample data.