Confidence Interval

Summary A Confidence Interval is an interval of numbers containing the most plausible values for our Population Parameter. A confidence level can be any value between, and not including, 0% and 100%. The higher the value, the larger the confidence level and the more the confidence interval will include the actual population mean. An increase … Read more

Box and Whiskers Diagrams

Summary A box and whiskers diagram displays a summary of a set of data. Maximum, Minimum, First Quartile, Third Quartile and Median, interquartile, upper limit, lower limit. Outlier can be present in the measurement, they thus need to be shown separately on the box and whiskers diagram. A box and whiskers diagram is also known … Read more

Bayes Theorem

Summary Bayes theorem is basically defined as calculating the given probability when we know certain other probabilities. Bayes theorem can be written as: We have already studied conditional probability in the article ”Probability”. Let’s recall this before we move on to Bayes theorem. Conditional probability is when the probability of one event, given that the … Read more

Averages

Summary Mean, Median, Mode are three principle measures of location. In general, these will not all give the same numerical value for a given dataset/distribution. Mean is defined by the formula:  . Mode is the most frequently occuring number. Range is the largest number minus the smallest number. Median is the middle number of an … Read more