MLchartDataset catalogue

Confidence intervals

Term · Insurance and risk management · MLC-T-INS-000898

A statistical range that quantifies the uncertainty around an estimated value, such as a mean or a proportion. It provides a range of values within which the true population parameter is expected to lie with a certain level of probability. In actuarial science, a 95% confidence interval is commonly used to estimate future claims or losses.

Table 1. Record
IdentifierMLC-T-INS-000898
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000898",
  "term": "Confidence intervals",
  "field": "Insurance and risk management",
  "definition": "A statistical range that quantifies the uncertainty around an estimated value, such as a mean or a proportion. It provides a range of values within which the true population parameter is expected to lie with a certain level of probability. In actuarial science, a 95% confidence interval is commonly used to estimate future claims or losses.",
  "url": "https://mlchart.com/terminology/insurance/confidence-intervals/"
}

Record 709 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.