October 2019
Beginner to intermediate
674 pages
16h 43m
English
Content preview from Mastering pandas - Second Edition
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Confidence intervals
In this section, we will address the issue of confidence intervals. A confidence interval allows us to make a probabilistic estimate of the value of the mean of a population's given sample data.
This estimate, called an interval estimate, consists of a range of values (intervals) that act as good estimates of the unknown population parameter.
The confidence interval is bounded by confidence limits. A 95 percent confidence interval is defined as an interval in which the interval contains the population mean with a 95 percent probability. So how do we construct a confidence interval?
Suppose we have a 2-tailed t-test and we want to construct a 95 percent confidence interval. In this case, we want the sample t-value,
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