confidence intervals

• Confidence interval - gives percentage probability
• confidence intervals in quality management

  • % relatability of machines
  • chance that quality control sample will detect issue
• Confidence intervals in market research

  • Statistical estimates for sales forecasting
  • Reliability of data from customers
• Confidence intervals im risk management & contingency planning

  • risk of sales forecast not achieved
  • Scenario planning for competitor actions
• Confidence intervals for budgeting & forecasting

  • Likely range of revenues & costs based on key assumptions
  • Sales forecast to support new product launches