Python

# Point and interval estimation in Python

Let us consider a random sample $x_1,x_2,\dots,x_N$ drawn from a normal distribution with unknown mean $\mu$ and unknown variance $\sigma^2$. The best point estimates for the mean and the variance are given by the sample mean$$\hat\mu = \frac{1}{N}\sum_{i=1}^{N} x_i$$ and the sample variance $$\hat\sigma^2 = \frac{1}{N-1}\sum_{i=1}^{N} (x_i-\hat\mu)^2\,,$$ respectively. The sample mean… Continue reading Point and interval estimation in Python