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interval estimation

noun, Statistics.
1.
the process of estimating a parameter of a given population by specifying an interval of values and the probability that the true value of the parameter falls within this interval.
Compare point estimation.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Encyclopedia Article for interval estimation

in statistics, the evaluation of a parameter-for example, the mean (average)-of a population by computing an interval, or range of values, within which the parameter is most likely to be located. Intervals are commonly chosen such that the parameter falls within with a 95 or 99 percent probability, called the confidence coefficient. Hence, the intervals are called confidence intervals; the end points of such an interval are called upper and lower confidence limits.

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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