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Beyond the Numbers
Nov. 9, 2022, 2:28 p.m. | Ron Sielinski
Towards Data Science - Medium towardsdatascience.com
How confidence intervals can help focus attention and simplify analysis
Image by the author using Stable DiffusionWe trust numbers. If a report tells us that a business received 1,000 orders last week, we trust that the business received 1,000 orders. The transactions are a matter of historical record, and their count is a simple arithmetic operation. If anyone asks, “how many?”, we know the answer.
It’s much more difficult to understand what 1,000 orders might mean to a business. …
business intelligence confidence-interval data science editors pick numbers statistics
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