How might adding confidence intervals help managers accept r

How might adding confidence intervals help managers accept results better? why?

Ask a manger in your organization if they would prefer a single point estimate or a range for important measures, and why? Please share what they say ...

or just give an example in the workplace please :)

Thank You!

Solution

Managers know that in reality, results of measurements will not always be the same.

Also, they know that the variability of different measurements are not always the same.

Thus, they want to know how much and how consistent. Confidence intervals give that, but not point estimates.

For example, you may give the average expenditures per day at the office, but that does not give any idea how consistent the expenses are. Thus, you need a confidence interval there.