vault backup: 2024-01-29 14:17:28
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@ -72,7 +72,9 @@ Remember that the *parameter* is the *number* that actually describes the popula
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For any unknown average, the probability histogram of the sample averages will be shaped like the normal curve and centered at the true average with a standard deviation equal to $SE_{ave}$.
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$$ sample_{ave} \pm 2 * se_{ave} $$
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$$ sample_{ave} \pm 2 * SE_{ave} $$
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This equation should be a review:
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$$ SE_{ave} = \frac{SD}{\sqrt{size\space samp}} $$
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The above equation will give you an interval that you can be 95% confident that the true random will be within that point.
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95% does *not* mean that 95% of the data is in the interval, it just means we are 95% confident that the actual point is going to lie within the range specified.
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95% does *not* mean that 95% of the data is in the interval, it just means we are 95% confident that the actual point is going to lie within the range specified.
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