Critical value
Definition
The value from a reference distribution (z or t) that cuts off the desired tail probability. For a 95% two-sided interval using the normal distribution, the critical value is 1.96.
Related terms
- Bayesian credible interval
- An interval computed from the posterior distribution of a parameter, given a prior and the observed data. Unlike a confidence interval, a...
- Confidence interval (CI)
- A range computed from sample data using a procedure that, over many repetitions, would contain the true population parameter a stated percentage...
- Coverage probability
- The true long-run proportion of intervals, from repeated sampling, that contain the parameter. If a procedure has 95% nominal coverage and its...
- Margin of error
- Half the width of a symmetric confidence interval, equal to the critical value multiplied by the standard error. Commonly reported in survey...
- Standard error (SE)
- The standard deviation of the sampling distribution of an estimator. For the sample mean, SE equals the population standard deviation divided by...
Explained in
- Confidence Intervals and What a Sample Can SupportThe value from a reference distribution (z or t) that cuts off the desired tail probability. For a 95% two-sided interval using the normal distribution, the cr...