Statistics for Data Science and Business Analysis - Calculating Confidence Intervals Within a Population with an Unknown

The video tutorial explains the use of the T statistic for calculating confidence intervals when the population variance is unknown. It provides a step-by-step guide on how to find the T statistic using a T table, emphasizing the differences between using T and Z statistics. The tutorial compares confidence intervals with known and unknown variances, highlighting the increased uncertainty with unknown variance. Key learnings include the application of the T statistic and the impact of variance knowledge on confidence interval accuracy.

What can be inferred about the confidence interval when the population variance is unknown?

Explain the difference between using the T statistic and the Z statistic.