Confidence intervals estimate likelihood of a data set's accuracy, aiding financial decisions. Utilizing confidence intervals in risk management helps stabilize cost forecasts. Larger sample sizes ...

Third in the series: Nobody becomes a Psych major to study statistics The science of uncertainty. Statistics – much to the regret of many potential psych majors – is the core methodology that links ...

I've become alarmed recently at the number of young engineers (i.e. those with less than 5 years of work experience), who seem to have missed the college course on applied probability and don't know ...

A confidence interval is a statistical concept that shows how likely it is that a range based on a sample of a population contains the mean, or the actual figure, for that data set. It's useful when a ...