High again in the previous lesson we learned about point estimators.
But as you can guess they are not very reliable.
Imagine visiting 5 percent of the restaurants in London and saying that the average meal is worth twenty
two point five 0 pounds.
You may be close but chances are that the true value isn’t really 20 to 50 but somewhere around it it’s
much safer to say that the average meal in London is somewhere between 20 and 25 pounds isn’t it.
In this way you have created a confidence interval around your point estimate of 20 to 50 a confidence
interval is a much more accurate representation of reality.
However there is still some uncertainty left which we measure in levels of confidence.
So getting back to our example you may say that you are 95 percent confident that the population parameter
lies between 20 and 25 quid.
Keep in mind that you can never be 100 percent confident unless you go through the entire populatio
1 view
2442
681
1 month ago 00:08:20 1
How Much Money Do You Need to Live in Moscow? | Easy Russian 85
1 month ago 00:07:45 1
КАК НЕ РЕАГИРОВАТЬ на Мир/Людей?-ТЕХНИКА №1!-Как Жить СКВОЗЬ Спокойствие?Сатсанг Ангеладжи Гуру 2024
1 month ago 01:20:21 1
Speaking English Practice Conversation | Questions and Answers English Conversation With Subtitle
1 month ago 00:46:25 1
Carl Perkins - Full Concert - 09/09/85 - Capitol Theatre (OFFICIAL)
1 month ago 00:06:46 1
10 Simple Exercise to Lose Stomach Fat Fast (Get A Flat Belly)
1 month ago 00:18:00 1
Band 8.5 IELTS Practice Speaking Exam
1 month ago 00:03:23 1
🟪РАСШИРЕНИЕ ПЛЕЧ🟪
1 month ago 00:37:27 1
❗️Это УДИВИТ💥 В течение 2-х месяцев... Это ПРОИЗОЙДЁТ ♣️ расклад таро 🌠 знаки судьбы
1 month ago 00:14:27 2
BLACKOUT PC BUILD | No RGB | Lian Li O11 Vision + Noctua + Core i7 14700k + RTX4080 + ASRock Z790
1 month ago 01:32:49 1
Depeche Mode - The Maxi Singles 81 - 85.
1 month ago 00:19:17 1
Diy Costurando uma calcinha na máquina doméstica - aula 80