Using the example of a confidence interval (the ring of a bullseye) and a point estimator (the point of a dart), we explore the relationship between the two. A point estimator is precise but wrong. A confidence interval is accurate, but non-specific. But together, they can tell us how wrong our point estimation is likely to be. Then the confidence interval is small, the point estimate is more certain.
Chapters
0:00 A dart is a point estimator
0:55 The bullseye is a confidence interval
1:51 The 95% confidence interval
4:22 Width and confidence
6:00 Interpreting the 95% C.I.
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This video is part of a series for an introductory statistics course. It supports an academic course QBA 237 Basic Business Statistics at Missouri State University, College of Business, Department of Information Technology and Cybersecurity. Posted beginning in Fall semester 2022.
This series was designed, written, produced, recorded, edited, and posted by Dr. Todd Daniel, a Ph.D. statistician and researcher with extensive experience in academic statistical research and statistics instruction. Dr. Daniel directed a research institute for many years before doing private consulting for Research by Design, LLC. He remains active in teaching and research.
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Statistics Instructors: you are free to link to this video and the playlist for your seated or online statistics course or for other educational purposes.
Edited in Camtasia 2022
Visual and audio content from DigitalJuice.com
Music: Digital Juice Royalty Free Music
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