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Operations Research, Systems Engineering and Industrial Engineering Commons

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Series

2008

Statistics and Probability

Articles 1 - 2 of 2

Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering

Why Divide By (N-1) For Sample Standard Deviation?, Paul Savory Jan 2008

Why Divide By (N-1) For Sample Standard Deviation?, Paul Savory

Industrial and Management Systems Engineering -- Instructional Materials

In statistics, the sample standard deviation is a widely used measure of the variability or dispersion of a data set. The standard deviation of a data set is the square root of its variance. In calculating the sample standard deviation, the divisor is the number of samples in the data set minus one (n-1) rather than n. This often confuses students. This paper offers a quick overview of why the divisor is (n-1) for calculating the sample standard deviation.


How Do You Interpret A Confidence Interval?, Paul Savory Jan 2008

How Do You Interpret A Confidence Interval?, Paul Savory

Industrial and Management Systems Engineering -- Instructional Materials

A confidence interval (CI) is an interval estimate of a population parameter. Instead of estimating the parameter by a single value, a point estimate, an interval likely to cover the parameter is developed. Many student incorrectly interpret the meaning of a confidence interval. This paper offers a quick overview of how to correctly interpret a confidence interval.