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Confidence Intervals & Tails

What do we mean by confidence intervals? What do the 'tails' of a distribution signify? Provide an example of a one tailed problem.

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A confidence interval gives an estimated range of values which is likely to include an unknown population parameter, the estimated range being calculated from a given set of sample data. If independent samples are taken repeatedly from the same population, and a confidence interval ...

Solution Summary

Almost 200 words explaining the concept of confidence intervals and tails of distributions, with an example for the latter.

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