Statistics 101: Confidence Intervals, Population Deviation Known.
In this video, we introduce the concept of a confidence interval for the population mean. A population parameter estimation is never going to be perfect; however, we can quantify its "closeness" in interval form. We are given or are told to assume, the population standard deviation in these examples. Using two short examples and two full-length examples we walk through what a confidence interval is and how to interpret it correctly. Enjoy!
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