Course Content
Learning Statistics with Python
Calculating Confidence Interval with Python
Which values can we estimate using a confidence interval?
Within this course, we will estimate mean values, but you can estimate whatever you want: variances, math expectations, etc.
Let's discuss the function for finding confidence intervals.
st.norm.interval()
- function that calculates confidence interval with the parameters:
alpha
parameter is the level of confidence,loc
parameter is the mean value of the distribution.scale
is the value of standard error of the mean.
What does standard error of the mean means?
The standard error of the mean, or standard error, demonstrates how the population mean is likely to vary from a sample mean.
Try to change the alpha
parameter and observe the changes.
Section 5.
Chapter 3