Calculate confidence intervals for population means using sample statistics
A confidence interval is a fundamental statistical tool that helps researchers estimate population parameters using sample data. It provides a range of values that likely contains the true population value, along with a measure of certainty about that range. Whether you're conducting academic research, analyzing market data, or performing quality control assessments, understanding confidence intervals is crucial for making informed decisions.
The confidence interval provides two key pieces of information:
For example, a 95% confidence interval means that if we repeated this sampling process many times, about 95% of the intervals would contain the true population parameter.