Business, like many other fields, can benefit from the use of statistics in estimating or predicting future events. An important tool for business statistics is a confidence interval, which helps a ...

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 ...

In statistics, p̂ represents the sample proportion or the estimated proportion of a population that possesses a certain characteristic or attribute. It's a point estimate derived from sample data used ...