Confidence band
Imagine you are playing a game where you have to throw a ball into a bucket. Sometimes you might throw the ball perfectly and it goes straight in the bucket, but other times you might miss and the ball will go all over the place.
Now imagine instead of just playing this game once, you have to play it many, many times. You would start to notice that most of the time the ball goes in a certain area around the bucket. This area is called a confidence band.
In statistics, a confidence band is just like that area around the bucket. It is a range of values where we can be pretty confident that the true answer lies. For example, if we want to know the average height of all the people in the world, we can take a sample of people and find their average height. Then we can create a confidence band around that average height that tells us where we think the true average height of all people in the world might be.
The size of the confidence band depends on how confident we want to be. A bigger confidence band means we are less certain about the true answer, while a smaller band means we are more certain. We use things like hypothesis testing and confidence intervals to help us figure out how wide our confidence band should be.
Now imagine instead of just playing this game once, you have to play it many, many times. You would start to notice that most of the time the ball goes in a certain area around the bucket. This area is called a confidence band.
In statistics, a confidence band is just like that area around the bucket. It is a range of values where we can be pretty confident that the true answer lies. For example, if we want to know the average height of all the people in the world, we can take a sample of people and find their average height. Then we can create a confidence band around that average height that tells us where we think the true average height of all people in the world might be.
The size of the confidence band depends on how confident we want to be. A bigger confidence band means we are less certain about the true answer, while a smaller band means we are more certain. We use things like hypothesis testing and confidence intervals to help us figure out how wide our confidence band should be.