One of the most important skills that you will learn in business statistics is to gather information from a sample and then use it to make a statement about the population from which it was chosen. The goal is to estimate the value of a population parameter using a sample statistic. For example, we might estimate the population mean, \(\mu\text{,}\) with the sample mean \(\overline{x}\text{.}\) But just how good is the estimate for the sample? Confidence intervals help us answer the question.
