From the course: Statistics Foundations 3: Using Data Sets
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Introduction to confidence intervals
From the course: Statistics Foundations 3: Using Data Sets
Introduction to confidence intervals
- The central limit theorem, it tells us that with multiple simple random samples, we can get a great approximation of the population mean. And the larger the sample size of those random samples, the smaller the standard deviation of our distributions, and the more certain we can be about our population mean estimate. In other words, more samples and larger sample sizes are a good thing. But in this section, we're going to go in the opposite direction. We're going to look at the power of having only a single random sample. We're going to look at confidence intervals. In this section, you'll often see results that look like this. We are 95% confident that the average adult in the United States drinks between two and three liters of beverages per day. Here's the incredible part. With one simple random sample, this statistician created an interval, an interval that stretches from a lower limit to an upper limit.…
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