Generally speaking, what is the difference between a confidence interval and a prediction interval?

Short Answer

Expert verified

Confidence is usually reserved for interval estimates of the parameters, Prediction is used for interval estimates of variables.

Step by step solution

01

Step 1:Given information

Confidence and Prediction interval

02

Step 2:Explaination

Generally, the term confidence is usually reserved for interval estimates of the parameters, whereas the term prediction is used for interval estimates of variables.

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