course content

Course Content

Learning Statistics with Python

Calculating Confidence Interval with PythonCalculating 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