This applet allows users to drag sliders to change the confidence level and sample size. The applet helps users visualize the meaning of the phrase "C% confidence," by showing that C% of the samples ...

Confidence Interval Estimate: a range of values so constructed that a specified proportion of the intervals costructed that way would contain the true value of a parameter. Critical Value: a point on ...

In this paper, we consider the problem of interval estimation for the mean of diagnostic test charges. Diagnostic test charge data may contain zero values, and the nonzero values can often be modeled ...

The problem of interval estimation of the common mean of several normal populations when the variances are unknown and unequal is considered. Some new confidence intervals are proposed. One of them is ...

I've become alarmed recently at the number of young engineers (i.e. those with less than 5 years of work experience), who seem to have missed the college course on applied probability and don't know ...

Toby Walters is a financial writer, investor, and lifelong learner. He has a passion for analyzing economic and financial data and sharing it with others. Pete Rathburn is a copy editor and ...

A confidence interval is a statistical concept that shows how likely it is that a range based on a sample of a population contains the mean, or the actual figure, for that data set. It's useful when a ...