Encounding Uncertainties
Variance Standard Deviation
Normal Distribution
The Central Limit Theorem
The Central Limit Theorem allow us to infer useful things about populations based on samples, even for non normal populations.
It states that the average of many independent random variables that all have the same distribution (not necessarily the normal distribution) is normally distributed.
Confidence Intervals
A confidence Interval is a range calculation showing how confidently we believe a sample mean (or other parameter) falls in a range for the population mean.
I first start by choosing a level of confidence (LOC), which will contain the desired probability for the population mean range. I want to be 95 % confident that my sample mean falls in the population mean range I will calculate.
Inferences beyond the mean
Code
All the resources I used for this blog are here
Acknowledgements
This blog is inspired in the you tube video Gradient Descent, Step-by-Step by StatQuest with Josh Starmer. BAM