I've become alarmed recently at the number of young engineers (i.e. those with less than 5 years of work experience), who seem to have missed the college course on applied probability and don't know ...

A confidence interval is a statistical concept that shows how likely it is that a range based on a sample of a population contains the mean, or the actual figure, for that data set. It's useful when a ...

Confidence Interval Estimate: a range of values so constructed that a specified proportion of the intervals costructed that way would contain the true value of a parameter. Critical Value: a point on ...

An expected volume coefficient (EV) is defined and proposed to displace volume and selectivity as criteria for the evaluation of confidence sets, and a proposal for evaluation is given. This proposal ...

Recently there has been considerable progress on setting good approximate confidence intervals for a single parameter θ in a multi-parameter family. Here we use these frequentist results as a ...

Business, like many other fields, can benefit from the use of statistics in estimating or predicting future events. An important tool for business statistics is a confidence interval, which helps a ...

This applet allows users to drag sliders to change the confidence level and sample size. The applet helps users visualize the meaning of the phrase "C% confidence," by showing that C% of the samples ...