7.2 statistics homework answers
Question:
How can you tell if an idea is statistically important?
Answer:
The methods for the mean confidence interval are strong against deviations from normality. This means that they work well with distributions that aren’t normal, as long as the deviations from normality aren’t too big. Analysts often use confidence intervals that include either 95% or 99% of the expected observations. So, if a statistical model gives a point estimate of 10.00 with a 95% confidence interval of 9.50–10.50, the true value is likely to be in that range 95% of the time.
