Confidence bounds in custom equation
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Hello,I used custom equation in matlab and I got the what you see in the photo, if i want the value of a& b i should consider the valuse under(value) coloum? Also could you tell me what confidence bounds mean? They arw confusing me
Answers (1)
Star Strider
on 10 Jul 2023
0 votes
I am not certain what your first question actually asks. The way to interpret the confidence limits here would be:
a = [0.0428 0.0440 0.0453]
b = [1.5125 1.5871 1.6616]
The confidence bound calculations use variations in the data from the fitted model to determine what range the specific parameter could be, here with 95% probability (2.5% to 97.5%). The reason is that in real-world situations, nothing is ever absolutely certain. They also indicate that they both explain the data, since the confidence bounds do not include zero (have opposite signs). If a confidence bound includes zero (here they do not), that would mean that the parameter with confidence bounds that include zero would actually not be needed as part of the model, and the model could be re-stated to exclude it without significantly affecting the ability of the model to explain the data.
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