Dear all,
I ran my model (LCNL) and calculated the WTP using apollo_deltaMethod. Now I want to obtain the 95% confidence intervals for each estimated parameter and the WTP values, but I don't know how to calculate them.
Could you please give me an example (code syntax)? Many thanks!
Best wishes,
Chunyu Song.
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How to calculate 95% confidence level?
-
stephanehess
- Site Admin
- Posts: 998
- Joined: 24 Apr 2020, 16:29
Re: How to calculate 95% confidence level?
Hi Chunyu
sorry for the slow response.
you can calculate asymptotic confidence intervals by the simple formula
estimate +- 1.96 * standard error
You can do this directly for estimates, and for things like WTP, you can get the value and standard error using apollo_deltaMethod and then apply the formula above
Stephane
sorry for the slow response.
you can calculate asymptotic confidence intervals by the simple formula
estimate +- 1.96 * standard error
You can do this directly for estimates, and for things like WTP, you can get the value and standard error using apollo_deltaMethod and then apply the formula above
Stephane