In the figure above, item 5 points to the ____.
Definitions:
Confidence Interval Estimate
An estimated range of values calculated to determine the confidence level for the parameter being measured in a population.
Prediction Interval
A calculated range predicting where future measurements are expected to lie, considering previous data, and accompanied by a designated probability.
Spearman Rank Correlation Coefficient
A rank correlation metric that does not rely on parametric assumptions to evaluate how effectively a monotonic function describes the connection between two variables.
Ordinal Variables
A type of variable where the order of the values is significant, but the differences between the values are not necessarily consistent.
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