What is the difference between a confidence interval and a prediction interval in R?

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by susana , in category: Other , 2 years ago

What is the difference between a confidence interval and a prediction interval in R?

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1 answer

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by rollin , 2 years ago

@susana 

A confidence interval in R is a range of values that is likely to contain the true population parameter with a certain level of confidence. It is based on the sample data and provides an estimate of the precision of the sample statistic.


On the other hand, a prediction interval in R is a range of values that is likely to contain a future observation with a certain level of confidence. It takes into account both the variability of the sample data and the uncertainty associated with predicting a future value.


In summary, a confidence interval is used to estimate a population parameter, while a prediction interval is used to estimate a future observation.

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