Confidence Interval

What is a Confidence Interval?

A confidence interval is a range of estimated values for an unknown parameter. To calculate it, a confidence level must be specified. The most common confidence level is 95%, although 90% and 99% confidence levels are also frequently used.

What Does a 95% Confidence Level Mean?

A 95% confidence level means that in 95% of cases, the estimate will fall within the lower and upper bounds of the interval.

Alpha Value

The confidence interval is typically equal to 1 minus alpha (1-a), where alpha represents the probability of a Type I error. Type I errors occur when we incorrectly reject a true null hypothesis.

Null and Alternative Hypotheses

The null and alternative hypotheses are assumptions used in statistical tests to make judgments based on data. In hypothesis testing, these hypotheses are mutually exclusive statements. Typically, we either attempt to reject or fail to reject the null hypothesis.

In this section, we will work with penguin data. By the end of this section, we will be able to confidently state that, with a "95% level of confidence, the mean penguin mass is...".

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Section 5. Chapter 2

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Course Content

Learning Statistics with Python

1. Basic Concepts

Sample vs Population Types of Statistics Types of Data Mean Value Median Value Median Value of the Even Number of Values Mean or Median Mode Value Descriptive Statistics Quiz

2. Mean, Median and Mode with Python

Examine the Dataset Calculating Mean and Median Values with Python Statistics with pandas Calculate the Mean and Median Salary

3. Variance and Standard Deviation

Population Variance Sample Variance Calculate Variance with Python Standard Deviation Standard Deviation with Python Calculating Variance and Standard Deviation

4. Covariance vs Correlation

Covariance Correlation Covariance and Correlation Quiz Calculate Covariance and Correlation

5. Confidence Interval

6. Statistical Testing

What is t-test Hypotheses t-test Mathematically One-Tailed And Two-Tailed Test t-test Assumptions Performing a t-test in Python Conduct a t-test Paired t-test