What Does Confidence Intervals Mean?

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What does Confidence Intervals mean? Read on to discover the definition & meaning of the term Confidence Intervals - to help you better understand the language used in insurance policies.

Confidence Intervals

Confidence Intervals

Statistical concept expressing the degree of confidence that, for instance, total losses will be below or above a given amount in any specified period, typically 1 year. The confidence level, or percentage, is interpreted as the long-run probability that the estimates will hold true over many stimulated estimate periods.

We hope the you have a better understanding of the meaning of Confidence Intervals.

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