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Example: the time, in minutes, that twelve customers waited to be served. The data are skewed, with a few long waits. What is the 95% interval for the mean, or for the median? Change the values or draw again.
Step by step
What each term means
- Confidence Interval
- The range of plausible values for the statistic in the population, obtained with no standard-error formula and no normality assumption.
- Lower Percentile
- The value below which α/2 of the resampled statistics θ̂* lie. At 95% confidence, the 2.5th percentile.
- Upper Percentile
- The value below which 1 − α/2 of the resampled statistics lie. At 95%, the 97.5th percentile. Between the two percentiles lie 95% of the resamples.