Could someone please help me understand what exactly "Confidence" in confidence interval actual means?
- Does it mean, that, (on average or exactly?), we can say, that (for a 90% confidence interval) confidence intervals drawn for 90% of the samples will contain the true value of the estimate?
- Is a confidence interval for a confidence level only defined for ordered data/sorted in order? As in, to find a confidence interval of a dataset which is randomly generated, we must sort it in order?
- Might be related to question (2), How is a confidence interval for a percentile different from point (1), if at all?