JMP® Means Business: Statistical Models for Management

Chapter 7. Confidence Intervals

• 7.1 Introduction 160

• 7.2 Point Estimates of Mean and Standard Deviation 160

  • 7.2.1 What Is a Point Estimate? 161

  • 7.2.2 Parameters and Estimates 162

  • 7.2.3 Standard Error of Estimate 164

• 7.3 Confidence Intervals for Mean and Standard Deviation 165

  • 7.3.1 What Is a Confidence Interval? 166

  • 7.3.2 (1-α)100% Confidence Level 167

• 7.4 Detail Example: Package Delivery Times of Herbal Teas 169

• 7.5 JMP Analysis of Herbal Tea Package Delivery Times 170

  • 7.5.1 Confidence Intervals for Mean and Standard Deviation 171

• 7.6 Prediction and Tolerance Intervals 174

  • 7.6.1 Prediction Intervals 174

  • 7.6.2 Tolerance Intervals 178

• 7.7 Summary 180

• 7.8 Problems 181

• 7.9 References 183

7.1 Introduction

Statistical inference is a method for drawing conclusions about ...