Confidence Interval for One Population Mean: σ Unknown

Ever wonder about the average value of a population, but unsure how certain you can be about your estimate? In this video, we'll explore confidence intervals, a statistical tool that helps you determine a range of values where the true population mean is likely to reside, even when the population's standard deviation is unknown.
We'll delve into the concept of the t-distribution, a close cousin of the normal z-distribution, that plays a key role in constructing confidence intervals in this scenario. You'll also learn how to calculate the confidence interval yourself, step-by-step, using the sample mean and sample standard deviation.
By the end of this video, you'll be equipped to interpret confidence intervals and gain valuable insights into population means, even with limited data about the population's spread.