Question

What is the benefit of using a confidence interval? What exactly does a confidence interval do that a P value does not? I need this to be clear because I am so confused.

Answer 1

Answer :-

In the field of statistics P-value and Confidence interval both are very useful technique for decision purpose,

1) Confidence interval provide information about a range in which the true value lies with a certain degree of probability ,in simple language C.I help to give decision about the null hypothesis reject or not.

2) if our calculated test statistic value lies between confidence interval then we may accept our null hypothesis otherwise we reject it.

3) P-value deal with level of significance(alpha/ type 1 error) and P-value give rapid decision as to whether a value is statistically significant or not .It also gives decision about the rejection or acceptance of our null hypothesis .If p-value is less than level of significance then we reject the null hypothesis otherwise we accept it.But remember p-values and confidence intervals are not contradictory statistical concepts.

4) if the size of the sample and dispersion or a point estimate are known then confidence intervals can be calculated from p-values and it is conversely true.

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