Confidence Intervals

This lesson will focus on the importance and calculation of confidence intervals.

A point estimate can give us a rough idea of a population parameter. But there is a chance that it contains some errors. We need to take many samples to reduce these errors. But taking many samples is not feasible all the time. As in our example of Data Scientists, it might not be feasible to take many different samples of 100 data scientists. What do we do if we face such a situation? We make confidence intervals.

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