Calculating Confidence Interval with Python | Confidence Interval

Course Content

Learning Statistics with Python

Calculating 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 `confidence` 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 `confidence` parameter and observe the changes.

Everything was clear?

Section 5. Chapter 3

Course Content

Learning Statistics with Python

Calculating 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 `confidence` 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 `confidence` parameter and observe the changes.

Everything was clear?

Section 5. Chapter 3