A delta confidence interval is a statistical measure that represents the range of values within which the true value of a population parameter is likely to fall. It is calculated by adding or subtracting a certain amount (delta) from the point estimate of the parameter.
A delta confidence interval is calculated by taking the point estimate of the population parameter and adding or subtracting the margin of error from it. The margin of error is determined by the sample size, standard deviation, and desired level of confidence.
The "delta" in delta confidence interval represents the amount that is added or subtracted from the point estimate to determine the upper and lower bounds of the confidence interval. It is often expressed as a percentage of the point estimate.
A delta confidence interval differs from a regular confidence interval in that it takes into account a specific amount (delta) to be added or subtracted from the point estimate. This allows for a more precise estimation of the true population parameter.
The choice of delta value for a confidence interval is significant because it affects the width of the interval and the level of precision in the estimation of the population parameter. A larger delta value will result in a wider interval and a smaller delta value will result in a narrower interval.