Confidence Intervals, Factor Analysis, Chi and T-Tests
3 important questions on Confidence Intervals, Factor Analysis, Chi and T-Tests
What is standard error?
The expected spread (differences) between comparable samples. It indicates to what extent the sample mean is an accurate estimate of the population mean, the smaller the more reliable your measurement
What is a confidence interval?
Estimating the population value by means of a range centralized around the observed mean with a certain degree of confidence.
So the confidence interval indicates between which limits with a certain degree of certainty (eg 95%) the actual population average lies.
Formula of confidence interval
The margins wherein the average of a similar sample will lie with a 95% certainty.
Reflects the accuracy of the sample found values. More spread means a larger interval (or with a similar degree of certainty a larger scope of your estimate) and vice versa.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
Remember faster, study better. Scientifically proven.
