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confidence interval
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A confidence interval constructs an interval of numbers which will contain the true parameter of the population (e.g. the mean) in \((1-\alpha)\) times of cases. \(\alpha\) is usually chosen to be small, so that our confidence interval has a probability of 95% or 99%
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confidence level
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The confidence level is the probability with which the confidence interval is believed to contain the true parameter of the population and is defined as \((1-\alpha)\)
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degrees of freedom
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Degrees of freedom express constraints on our estimation process by specifying how many values in the calculation are free to vary
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significance level
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Is denoted as \(\alpha\) and defined as \(1-\)confidence level.
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