https://doi.org/10.1351/goldbook.C01246
The probability of covering the expected value of an estimated parameter with an interval estimated for the parameter (symbol ). The confidence level can be expressed as a number between 0 and 1, or in percent. The complementary quantity is known as the significance level.
Note: In some cases the confidence level is dictated by the needs of the situation. In all other instances, use of is recommended.