In statistics, we use a variety of intervals to characterize the results. The most well-known of these are confidence intervals. However, confidence intervals are not always appropriate. Here we’ll take a look at the different types of intervals, their characteristics, and when you should use them.

I’ll cover confidence intervals, prediction intervals, and tolerance intervals. Because tolerance intervals are the least-known, I’ll devote extra time to explaining how they work and when you’d want to use them.

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