Mean + Variance
The mean and variance are some of the most used in math and statistics. Below are some Math Formulas of the mean and variance.
Estimating the mean – µ
is an unbiased estimator. You can prove this by using:
If
for all n > 1, then the Central Limit Theorem says that:
(a Normal distribution).
| Confidence Interval for µ
You can prove this by using:
|
If the sample is small, to retain 95% CI, you have to widen the interval. To do that, you replace Z 0.025 by t 0.025. Then either:
and Z 0.025 = 1.96
OR
If you don’t know
for certain, you can use t 0.025 instead of Z to compensate for S.