|
Expected Duration
So, for example, if you know that a particular rock has been sitting on a fencepost
for six months, and you are wondering how long it will likely remain there,
you could enter "0.5" in the "units" box, above, to represent half a year.
Then you might enter "90" in the "confidence %" box, if you want predictions
that have a confidence level (confidence interval) of 90 percent.
This would give you a result of 0.0263 for the "Minimum" and
9.5000 for the "Maximum" value. This means that we can be 90 percent confident that the
rock will be there for at least 0.0263 more years (or 9.6 days), but no longer than 9.5 years.
|