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interval estimation

noun, Statistics.
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. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Encyclopedia Article for interval-estimation

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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