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:
alphaparameter is the level of confidence,
locparameter is the mean value of the distribution.
scaleis 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.