What is the difference between p-value and confidence interval?
An example of an AI chatbot conversation about p-values and confidence intervals.
What is the difference between p-value and confidence interval?
A p-value helps determine the significance of results, while a confidence interval provides a range of values for an estimate.
Can you give an example of how to interpret a p-value?
Sure! If you have a p-value of 0.03, it suggests there's a 3% chance the results are due to random variation, indicating significance.
And how do I interpret a confidence interval?
A confidence interval, say 95% CI [1.5, 2.5], means you can be 95% confident the true value lies between 1.5 and 2.5.
Are p-values and confidence intervals related?
Yes, they are related! Both are used in hypothesis testing and provide insights into the reliability of your results.
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