Statistics in Action Case: Rare Events
How do we build a confidence interval when every observation in the sample is the same? It may sound unusual, but it’s common to observe a sample in which every case produces the same outcome in medicine, finance, retail, and manufacturing. For instance, we might observe that all of the patients are healthy, that none of the customers made a purchase, or that every tested component checked out fine. Just because every item in the sample is the same, however, doesn’t mean that the proportion in the population is zero. Can we be sure that no one in ...
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