course content

Course Content

Learning Statistics with Python

Calculating Confidence Interval with PythonCalculating Confidence Interval with Python

What Values Can We Estimate Using a Confidence Interval?

In this course, we will estimate mean values, but you can estimate other statistics such as variances, mathematical expectations, and more.

Now, let's delve into the function for calculating confidence intervals.

The st.norm.interval() function is used to compute a confidence interval with the following parameters:

  • The alpha parameter represents the confidence level.
  • The loc parameter signifies the mean value of the distribution.
  • The scale is the standard error of the mean.

What Is Standard Error of the Mean?

The standard error of the mean, often called standard error, measures how likely the population mean is to deviate from a sample mean.

Try to change the alpha parameter and observe the changes.

Everything was clear?

Section 5. Chapter 3