Confidence Interval: The right and wrong way to understand them.

In this video, we'll uncover the true definition of a confidence interval, clear up some common misconceptions, and explain the difference between the incorrect and correct interpretations. In fact, published studies have shown that professional scientists frequently misinterpret confidence intervals.
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[@datatab]

If you like, please find our e-Book here: datatab.net/statistics-book 📔

[@kennethgottfredsen767]

The best source of learning statistics on KZbin.

[@IrishMexican]

As a data analyst on a data science team, you make me feel less dumb in my position. Thank you.

[@ramyan5528]

Nice explanation!!! . In simple words we can say, Confidence Interval tells about the precision not the accuracy!

[@datatab]

Yes! Many thanks for the addition! Regards Hannah

[@heliomonteiro4200]

Great vídeo, thanks

[@datatab]

Many thanks! Regards Hannah

[@chanrasmeypech9710]

I like your channel. I do learn a lot from this. Thanks for your kind sharing the knowledge. Very much appreciate ❤

[@caduguimaraes]

Wonderful explanation

[@datatab]

Glad it was helpful! Thanks and Regards Hannah

[@Questtoknowwithdraftab]

Nicely explained

[@datatab]

Many thanks! Regards Hannah

[@abdullahtammour]

Good stuff!

[@datatab]

Glad you enjoyed it and many thanks for your feedback! Regards Hannah

[@PassingTheDog]

Thanks :)!

[@datatab]

Welcome! : ) Regards Hannah

[@gordoaraujo]

Great video! What is the difference with confidence bands? Do they also have similar interpretation? Thanks :)

[@kennethgottfredsen767]

Are you going to cover any machine learning and Bayesian statistics in the future? Or are you sticking to the basics of statistics?

[@digishah]

So if I did an experiment to calculate the mean height for a sample of boys vs girls with 95% confidence interval. Using the confidence interval to determine whether their height difference is significant would be wrong?

[@djardar]

Ok, say I have performed some experiments, and I have a confidence interval. It cannot give me the probability that it contains the true mean. How is that useful at all? Why bother?

[@datatab]

Hi, when you say you have a 95% confidence interval, it means that if you repeated this experiment many times, 95% of the intervals you calculated from those repeated experiments would contain the true mean. It doesn't tell you the probability for this specific interval, but it does tell you how confident you can be in the process of estimating the mean. It's not about the probability for one interval, but about how much trust you can have in the method you used to generate that interval. I hope this was helpful, Regards, Hannah

[@djardar]

@@datatab Thank you for the swift reply. I still struggle with how they are useful; is the main goal to compare them to each other, since it doesn't like one interval by itself says much (besides how much you trust the sampling method)? What if you look at historical data, and group by months for example? Then you could have one CI per month..

[@yadukrishnan8577]

🤦‍♂9:25 "How is the confidence interval for the mean calculated?" -- This statement is confusing to me. Isn't it better to say, 'How is the confidence interval for this method/statistical-test calculated?'

[@myworldfriends123]

😀😃🤩🤩🤩🤩🙂😊

[@datatab]

Thanks : )