T-statistic

Definition

The t-statistic is a measure that quantifies the difference between a sample mean and a population mean, taking into account the variability within the sample. It is used to determine if there is a significant difference between the two means.

Related terms

Confidence Interval: A confidence interval is an estimate of the range within which we expect the true population parameter to fall. It provides information about how precise our estimate is.

Degrees of Freedom: Degrees of freedom represent the number of values that are free to vary in a statistical calculation. In simple terms, it determines how much information we have available for making conclusions.

Hypothesis Testing: Hypothesis testing involves making decisions based on data to determine whether there is enough evidence to support or reject a claim about a population parameter. It helps us draw conclusions from sample data.