Confidence Interval
Range of values you expect your estimate to fall between if you redo your test, within certain level of confidence.
Confidence-Describes - Probability
Point Estimate +- Margin of error
Given : ( α = 0.05 , n ,x̄ , Population standard deviation σ )
Tests:
- z-test (Population standard is given & n>=30)
- t-test (Population standard is not given & n
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Parameter estimation is the process of computing a model’s parameter values from measured data. You can apply parameter estimation to different types of mathematical models, including statistical models, parametric dynamic models, and data-based Simulink® models
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