Thank you so much. This is exactly what I needed for my research!
@rajatkawade847
2 жыл бұрын
Great explanation. Thanks a lot.
@doll326
Жыл бұрын
Hello, What is the difference between confidence interval for the slope and the confidence interval for the mean? Are they the same?
@chargedpion8001
Жыл бұрын
Hello ! The confidence interval for the slope is a measure of the uncertainty of the estimated slope of a regression line. It is calculated by taking the estimated slope and adding and subtracting a margin of error. The confidence interval for the mean is a measure of the uncertainty of the mean of a population. It is calculated by taking the sample mean and adding and subtracting a margin of error.
@doll326
Жыл бұрын
@@chargedpion8001 Million thanks for the reply!! May I also ask how will the confidence interval for the mean be shown on the regression line? I knew it is different from the prediction interval but unable to visualize it
@chargedpion8001
Жыл бұрын
@@doll326 With pleasure , the confidence interval for the mean can be shown on the regression line by plotting the confidence interval as a band around the regression line. This band will indicate the range of values within which the mean is likely to fall.
@doll326
Жыл бұрын
@@chargedpion8001 is the band something that looks like a normal distribution line drawn perpendicular to different points on the regression line?
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