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By contrast, the (true) coverage probability is the actual probability that the interval contains the parameter. If all assumptions used in deriving a confidence interval are met, the nominal coverage probability will equal the coverage probability (termed "true" or "actual" coverage probability for emphasis).
In the example above, the simultaneous coverage probability is the probability that the intervals for x = 18,19,... all cover their true values (assuming that 18 is the youngest age at which a person can vote). If each interval individually has coverage probability 0.95, the simultaneous coverage probability is generally less than 0.95.
The confidence interval can be expressed in terms of probability with respect to a single theoretical (yet to be realized) sample: "There is a 95% probability that the 95% confidence interval calculated from a given future sample will cover the true value of the population parameter."
The probability density function (PDF) for the Wilson score interval, plus PDF s at interval bounds. Tail areas are equal. Since the interval is derived by solving from the normal approximation to the binomial, the Wilson score interval ( , + ) has the property of being guaranteed to obtain the same result as the equivalent z-test or chi-squared test.
The "68–95–99.7 rule" is often used to quickly get a rough probability estimate of something, given its standard deviation, if the population is assumed to be normal. It is also used as a simple test for outliers if the population is assumed normal, and as a normality test if the population is potentially not normal.
They aggregate historical data — such as event frequency, scale, losses and contributing factors — to calculate price and coverage. However, the increase in disasters makes the past an ...
What is a good debt-service coverage ratio? Most lenders want to see a debt-service coverage ratio of at least 1.25. But, lender requirements will vary depending on the type of business loan and ...
Preventive care coverage kicks in immediately when your plan starts, while illness and accident coverage have a brief 14-day waiting period. You can choose between an accident-only plan or the ...