Confidence intervals for the slope of a regression model

Definition

Confidence intervals for the slope of a regression model provide a range of plausible values for the true slope parameter. They indicate the uncertainty associated with estimating the relationship between two variables in a linear regression analysis.

Analogy

Imagine you are trying to estimate how much time it takes to complete a task based on the number of people working on it. The confidence interval for the slope would be like having a range of possible speeds that each person can work at, allowing you to estimate how long it might take with different numbers of workers.

Related terms

Regression analysis: Regression analysis is a statistical technique used to model and analyze relationships between variables.

Coefficient of determination (R-squared): R-squared measures the proportion of variation in the dependent variable that can be explained by the independent variable(s).

Standard error: The standard error represents how much variability there is in estimating the true value of a parameter, such as the slope, from sample data.