October 2015
Beginner
384 pages
16h 41m
English
Content preview from Business Statistics Made Easy in SAS
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Appendix A to Chapter 12: More on Accuracy (optional)
Background
As explained in
the main chapter, point values of statistics have the disadvantage
that on their own they cannot be used to assess how accurate they
are. To assess accuracy, you need more. For example, perhaps you need
confidence intervals that give a range for the statistic at a certain
level of confidence.
To properly explain
how we form p-values and confidence intervals, I will start with the
best-case scenario for assessing accuracy — which we cannot
usually achieve — and then show how we compromise by forming
p-values and confidence intervals.
(Unrealistic) Best Case for Assessing Statistical Accuracy
Usually when you do a statistical analysis you draw a sample to ...
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