Statistical Inference and Confidence Intervals is a part of the VCE Maths Methods topic Probability and Statistics.
In this post, we will understand the concept of an interval estimate for a parameter associated with a random variable. The confidence interval (CI) is a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval.
The following video explains confidence intervals in depth.
This next video explains how confidence intervals may have a margin of error.
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