Confidence intervals are really important when we're trying to guess about a whole group of things based on a smaller group.
They give us a range of values where we think the true number might be.
Here's an example to help you understand:
If you figure out a 95% confidence interval for an average from a sample, you're basically saying there's a 95% chance that this range includes the true average for the entire group.
To put it simply, if the sample average is and we have something called the standard error, which we write as , we can show this range like this: .
Using confidence intervals helps data scientists make smart choices because they can trust the numbers they're looking at.
Confidence intervals are really important when we're trying to guess about a whole group of things based on a smaller group.
They give us a range of values where we think the true number might be.
Here's an example to help you understand:
If you figure out a 95% confidence interval for an average from a sample, you're basically saying there's a 95% chance that this range includes the true average for the entire group.
To put it simply, if the sample average is and we have something called the standard error, which we write as , we can show this range like this: .
Using confidence intervals helps data scientists make smart choices because they can trust the numbers they're looking at.