Video 2: Confidence Intervals

We learn the implications of sampling on our coefficient's uncertainty, and understand why it is convenient to talk in terms of confidence intervals rather than point estimates. Of course, we learn how to construct these intervals.
TABLE OF CONTENTS:
00:00 Confidence Intervals
00:14 Regression’s Objectives
00:40 Previous Regression Result
01:06 Pending Questions
01:36 Interpreting the Coefficients
02:09 Example of the Effect of Sampling using Excel
07:16 Confidence Intervals
08:11 Leveraging the Normal Distribution
09:49 Building the Confidence Interval
11:07 If there were no relationship…
12:21 Statistically Significant Relationship
13:35 Coming back to our example…
14:06 p-values Rule
14:59 p-values in GRETL
15:55 Those stars….
16:58 Summary

Пікірлер: 126

  • @katelala23
    @katelala235 жыл бұрын

    why are free KZread videos more helpful and easier to understand than my professor?

  • @kites50

    @kites50

    5 жыл бұрын

    Life is full of surprises. 55555

  • @Kartikay619

    @Kartikay619

    3 жыл бұрын

    Exactly what I am thinking

  • @sallyjavidi

    @sallyjavidi

    3 жыл бұрын

    EXACTLY WHY :)

  • @d.a.macatangay7946

    @d.a.macatangay7946

    3 жыл бұрын

    Agree.. Thanks for this info..

  • @MutterSalsa

    @MutterSalsa

    2 жыл бұрын

    I would guess that a random sample of professional academic would get you a larger majority of people who is just in it for reserach, and maybe not too interested in teaching. All the while, a random sample of youtube turtoring accounts will produce a larger majority of people having the skill while simulatniusly being passioned about it. This discrepancy is not all that absurd when considering universities as only in second hand being all about teaching, and perhaps more of vassels of individual scientific attainment.

  • @nikolaykolin7384
    @nikolaykolin73847 жыл бұрын

    Dear Teacher! You saved me from dropping my economics class. Because of you I can now say that I can do Linear Regression analysis on Economical data. I searched everywhere for a simple explanation and you provided it. I am forever subscribed to your channel. Thanks a lot! If you need support sharing your videos let me know. You are the best!

  • @ankaah1230

    @ankaah1230

    Жыл бұрын

    i second this.

  • @andreemterry2172

    @andreemterry2172

    8 ай бұрын

    I third this.@@ankaah1230

  • @alejandraarcos1024

    @alejandraarcos1024

    6 ай бұрын

    X3

  • @Hari-cz3od
    @Hari-cz3od6 жыл бұрын

    Now I know that Econometrics itself is not too complicated to comprehend. It is the explanation method that matters. Thank you so much! I feel much more positive after watching just two of your videos.

  • @muhaiminulrahi513
    @muhaiminulrahi51311 күн бұрын

    Many many thanks! I can't express my gratitude in words. It was super helpful for me.

  • @Ayeza625
    @Ayeza6256 жыл бұрын

    you are the blessing for students i haven't seen such a comprehensive explanation ever in my life.God bless you.

  • @abelgebreegziabher6096
    @abelgebreegziabher60967 жыл бұрын

    It is amazing that some people are just so gifted at explaining things. Well, Explanined!!

  • @mehriazizi2856
    @mehriazizi28563 жыл бұрын

    OMG, thank you for talking so practical. This video summarized one whole course of statistics I took.

  • @akhan9969
    @akhan99695 жыл бұрын

    Amazing indeed, particularly showing the population parameters and the sample parameters in the form of a simulation - it will stay in students' minds as long as they will work with samples. Thank you very much Sir!

  • @swadeshibiden6912
    @swadeshibiden69123 жыл бұрын

    just mindblowing. Thank very very much for this clarification of P value and CI.

  • @Skuljor
    @Skuljor7 жыл бұрын

    Your videos are fantastic, absolutely nailing the questions I have an explaining in a very thorough and understandable manner. Thanks!

  • @gkeconomics981
    @gkeconomics9814 жыл бұрын

    Thank you very much for explaining statistics in simplest possible way. You are great teacher!

  • @haideeawyan7759
    @haideeawyan77593 жыл бұрын

    I cant yet definitely internalized everything but I am so happy of knowing this youtube channel... God bless...

  • @hodih370
    @hodih3704 жыл бұрын

    You're the godfather of statistics! Thanks for providing these useful videos

  • @TheNacosta
    @TheNacosta4 жыл бұрын

    Excellent video with a clear and straight to the point explanation. This is really helpful! Keep up the good work and congratulations!

  • @tz2014
    @tz20143 жыл бұрын

    I must say this is one of the best explanation about Linear regression, I started learning Machine Learning Last week it was kind of hard to grasp the concept but now it's like I was born to do this.

  • @NavruzbekAzzamov
    @NavruzbekAzzamov2 жыл бұрын

    Absolutely amazing explanation, Thank YOU professor.

  • @sugavananv
    @sugavananv3 ай бұрын

    Why are you teaching like legend. Hats off..

  • @farahstanakzai2071
    @farahstanakzai20717 жыл бұрын

    Amazing... You explained everything so well... love it

  • @afawkimartyr
    @afawkimartyr3 жыл бұрын

    Thank you so much. This is the best explanation I have seen so far. Thank you so much

  • @sasi0263
    @sasi02633 жыл бұрын

    simply amazing. understood at 40 which was expected at 20

  • @milliekim5072
    @milliekim50725 жыл бұрын

    This is a wonderful video! Thank you, sir!

  • @dooglelgood
    @dooglelgood8 жыл бұрын

    Excellent video series! I encourage you to do more statistical topics (in English)...you are a gifted teacher.

  • @stephantinschert6744

    @stephantinschert6744

    7 жыл бұрын

    He is a prof at Incae (one of the top business school in LATAM)

  • @sallyjavidi

    @sallyjavidi

    3 жыл бұрын

    INDEED

  • @YourTechGerman
    @YourTechGerman5 жыл бұрын

    Very well explained, a good addition to my lectures!

  • @jitendranath4058
    @jitendranath4058 Жыл бұрын

    After watching this video lecture it seems so simple. Loved the way you explained.

  • @kobedierckx2918
    @kobedierckx2918 Жыл бұрын

    Great video and great example, you make it very intuitive and easy to understand!

  • @SAMAmUrl
    @SAMAmUrl5 жыл бұрын

    Pédagogiquement corret. Right to the cross line. Thanks, you explanation is enough clear fro the mere mortal.

  • @mirandachapman5477
    @mirandachapman54776 жыл бұрын

    Thanks for the video. Your explanation was very detailed and easily understood.

  • @shekharkaul
    @shekharkaul7 жыл бұрын

    Marvelous. Great job done. The concepts are so finely described and are understandable in just one go.. Keep going.. *Thums Up*

  • @abhayanand1668
    @abhayanand16686 жыл бұрын

    one among the best videos on statistics.

  • @silulekomkhize7839
    @silulekomkhize78395 жыл бұрын

    Wooow you are amazing! Nipped it by the bud! straight to the point and nice clear explanations!!!

  • @rohanirohan9756
    @rohanirohan97562 жыл бұрын

    Excellent, logical, good examples, and easy explaination.

  • @tianyingguo2005
    @tianyingguo20054 жыл бұрын

    It is much clearer than my lecturer! Brilliant!

  • @siraratube
    @siraratube3 жыл бұрын

    thank you now i can handle econometrics and found it very helpful. May God bless you.

  • @hedwigfonjong960
    @hedwigfonjong9608 жыл бұрын

    You are the best teacher everrrrr

  • @yoee8493
    @yoee84934 жыл бұрын

    Thank you so much! Ur 18mins explanation is precise n better n easy to get the points than my 1.5hours lecture. I understand nothing from my professor haha

  • @ShaileshTumma
    @ShaileshTumma4 жыл бұрын

    Thanks for making this video. It helped me a great deal understanding linear regression

  • @rnsbakhietrm5914
    @rnsbakhietrm59144 жыл бұрын

    Wow...Cristal clear. Thanks 👍

  • @dhanashreeshelke1376
    @dhanashreeshelke13763 ай бұрын

    I am here because of econometrics😭😭and i was finding it really tough and because of which I was tensed but somehow after watching your videos somehow my tension is relieved... Thank you

  • @Abdessamad1337
    @Abdessamad13377 жыл бұрын

    You are a great Teacher Thank you sir.

  • @shamsulhoquekhan933
    @shamsulhoquekhan933 Жыл бұрын

    Thank you so much for all the content. I can say that you are better teacher the my Bachelor and MSc professors. You saved me from dropping my courses. Can you please upload videos about time series?

  • @NagaVenkateshgavini
    @NagaVenkateshgavini Жыл бұрын

    Very well explained sir, The best video I ever came across

  • @uviep165
    @uviep165 Жыл бұрын

    Thank you so much. Your videos are awesome!

  • @thodorispseftelis144
    @thodorispseftelis1446 жыл бұрын

    Amazing playlist!!

  • @anirudhkothari
    @anirudhkothari7 жыл бұрын

    Great work , I appreciate it !!

  • @yasithaweer
    @yasithaweer Жыл бұрын

    Thank you so much for the excellent teaching stuff

  • @WzRDxDiamond
    @WzRDxDiamond6 жыл бұрын

    just awesome! really good video!

  • @promisejoshua7878
    @promisejoshua78783 жыл бұрын

    you are an amazing teacher!!

  • @tz2014
    @tz20143 жыл бұрын

    Thank you sir! you are a great teacher

  • @priyankadoiphode5
    @priyankadoiphode53 жыл бұрын

    Mind-boggling 😀😀🔥

  • @alicekamanga505
    @alicekamanga5059 ай бұрын

    i cannot thank you enough for this.

  • @chukybaby
    @chukybaby7 жыл бұрын

    Can you provide a link to the Excel spreadsheet in 2:12?. Thanks

  • @ethiopiaartistfans7900
    @ethiopiaartistfans79006 жыл бұрын

    Amazing video!

  • @saadalmissallaty90saad64
    @saadalmissallaty90saad643 жыл бұрын

    Wow,that was sooooo informative 👌

  • @Taddius4zindagi
    @Taddius4zindagi7 жыл бұрын

    Amazing video! Really liked the intuitive explanation of p-value (that its the probability that the null hypothesis is true). Just one suggestion - maybe at the end of the video, two disclaimers / caveats would be appropriate - (1) some rules of thumb need to be modified for one-tailed tests (in stead of the described two-tailed test) and (2) 5% level of significance is not considered sacrosanct by all

  • @mariocailotto9497
    @mariocailotto94977 жыл бұрын

    Great work!

  • @Manas2
    @Manas27 жыл бұрын

    Nicely described thanks :)

  • @geoffreyvasquez1
    @geoffreyvasquez17 жыл бұрын

    amazingly explained!

  • @theharrisonlee
    @theharrisonlee3 жыл бұрын

    best explanation by far

  • @irynajanke7056
    @irynajanke70567 жыл бұрын

    AMAZING!!! Thank you!

  • @halimtj3597
    @halimtj35974 жыл бұрын

    Very Excellent. Thanks

  • @VanessaKlinger
    @VanessaKlinger8 жыл бұрын

    can you please provide the link to this worksheet which has the formula? Thank you!

  • @ernestakpaku756
    @ernestakpaku7565 жыл бұрын

    please I need the url for the data set used in this video to follow Sir. Thank you so much

  • @hariharamoorthythennetipan2190
    @hariharamoorthythennetipan21907 жыл бұрын

    Nice explanation

  • @maredelioglu8624
    @maredelioglu86245 жыл бұрын

    Really amazing...

  • @barnabasbol6441
    @barnabasbol64412 жыл бұрын

    this is a very interesting lesson

  • @youcefyahiaoui1465
    @youcefyahiaoui14652 жыл бұрын

    I minute 10:23 of the video, I wish you explained the reason why you add and substract 2 x standard error on the slope...

  • @dazdoozz3070
    @dazdoozz3070Ай бұрын

    You are awesome ❤

  • @ujjwalverma976
    @ujjwalverma9762 жыл бұрын

    Please provide link for dataset and thank you for your efforts.

  • @husseinel-sayed64
    @husseinel-sayed647 жыл бұрын

    Hi... Great video.. appreciate if you let me know the reference book that you are using. Thnks

  • @foozieakbar
    @foozieakbar6 жыл бұрын

    Hi there, if you check at 13:44 , isnt that supposed to be 0.853 +- 2x0.051?

  • @rolling_happiness5768
    @rolling_happiness57683 ай бұрын

    You are awesome 👌

  • @rutujabavadekar898
    @rutujabavadekar8984 жыл бұрын

    thank you so much sir.

  • @michmarino
    @michmarino2 жыл бұрын

    can anyone send the link to the course website? I would like this data the dataset to practice

  • @chalafufa5100
    @chalafufa51006 ай бұрын

    thank you so much, how can i get a not for this video?

  • @23561avatar
    @23561avatar6 жыл бұрын

    Apart from agreeing this is a very helpful video to many students, I would like to offer a correction to the rough explanation of the p-value, because it is unintentionally misleading for inexperienced people. *The p-value is NOT the probability there is no relationship*. It's very appealing to think the p-value can tell you this, because it sounds so understandable at first glance. Unfortunately, the problem is, you can't know the probability that there is no relationship. The correct way of interpreting the p-value (and this requires some careful reading): _Let's say there really is no relationship (which you can't know, but let's just assume), what is the probability that you will get the results you got in the sample of your study?_ I.e., how likely is it that your study could produce the results that it did, assuming there is no relationship in reality? That's the p-value. For instance, if your study produces sample results that really look like there is a relationship, and the p-value is 0.05, it means that if there happens to be no relationship in reality, you still have a 5% probability of getting those awesome sample results that suggest a relationship. However, when it's that unlikely to get those results if there is no relationship in reality, it's standard practice to assume the relationship in your study happened because there probably is a relationship in reality. Nevertheless, although the p-value may be very low, it's still possible there is no relationship in reality, and that your study just happened to have a fucked up sample of people (or plants, animals etc.) that randomly produced a data pattern that gave the impression of a relationship in your study. I only give this explanation to really interested students. Generally, however, I just say: "if the p-value is 0.05 or lower, you can assume you've PROBABLY found a relationship". I don't try to explain the p-value any further, because in my experience the concepts you need to understand it are very tricky to grasp for most inexperienced students. Here's a paper by Steven Goodman I found extremely helpful for understanding the misconceptions surrounding p-values: www.perfendo.org/docs/BayesProbability/twelvePvaluemisconceptions.pdf

  • @katiephung9101

    @katiephung9101

    5 жыл бұрын

    Thank you for the comprehensive explanation of the p-value. I usually could not find any well-explained definition of p-value like this. Thank you again! it helps me a lot.

  • @lsneerg

    @lsneerg

    5 жыл бұрын

    So, can I say that the p-value represents the probability of ending up with my particular sample (with which I built a regression model) from a population that in fact exhibits no such pattern as my model suggests? I’m a bit confused between whether you are referring to the probability of building a model the wrong way, or the probability of being given with the wrong data to begin with (=building a wrong model the right way). I’m not a native speaker of the English language, so I would much appreciate if you could be patient and add on to your already very elaborate explanation.

  • @victor_peral

    @victor_peral

    2 жыл бұрын

    Thank you , grasping an intuitive explanation for p values for beginners is always tricky , I got a summary from khan academy that helped , the probability of the statistics assuming the null hypothesis is true, which is also the probability that determines whether you accept or reject the null hypothesis

  • @ibukunajadi
    @ibukunajadi3 жыл бұрын

    Thank you for helping me not fail 😭

  • @user-ge7ch8bc9y
    @user-ge7ch8bc9y2 жыл бұрын

    but we are using coefficient 0.85 to set the intervals. what if we used different sample with different coefficient, would we get the same interval because the error is also gonna be different?

  • @jamesnjau9457
    @jamesnjau9457 Жыл бұрын

    How do we fit the intercept to reduce error?

  • @SuperKhushab
    @SuperKhushab6 жыл бұрын

    very good, what about course website ?

  • @1975fadel
    @1975fadel6 жыл бұрын

    very good video

  • @celebchizoka7445
    @celebchizoka74458 ай бұрын

    @datamining where can I find the excel sheet you're using?

  • @alvarosacristangonzalez5465
    @alvarosacristangonzalez5465 Жыл бұрын

    14:45 But thte p value isnt the probability that being the null hypotesis sustained, the probability of getting the observed values or more extreme ones (unlikely)?

  • @mn2361
    @mn23615 жыл бұрын

    thanks for the video

  • @eggegshiglen1663
    @eggegshiglen16633 жыл бұрын

    thank you so much!

  • @sunildigala4961
    @sunildigala49616 жыл бұрын

    thank you Sir

  • @lomofatboy
    @lomofatboy8 ай бұрын

    God blessed you

  • @codephil
    @codephil2 жыл бұрын

    Why does he highlight 1.96 standard deviation in graph instead of 2?

  • @Lets_learnit
    @Lets_learnit2 жыл бұрын

    Sorry, What’s the course site that I can download files from ?

  • @woshiwangxuting
    @woshiwangxuting5 жыл бұрын

    A+ TEACHER

  • @frikhatomar6426
    @frikhatomar64264 жыл бұрын

    Thank You very Much =D

  • @datalearningsihan
    @datalearningsihan Жыл бұрын

    You teach better than these university teachers at yale :D

  • @emmascoplex
    @emmascoplex Жыл бұрын

    Wheres the data set please

  • @abhidcooldude6819
    @abhidcooldude68196 жыл бұрын

    hi sir i have a doubt in 1 part 0.853+- 2* 0.051 --> (0.751 , 0.954) where this range came from ?

  • @stephaniegomez6259

    @stephaniegomez6259

    5 жыл бұрын

    He basically multiplied the std error by 2 and from the results of that answer, he added first and got the 751. Then, he subtracted that same number and got 954. Hope this helps.

  • @silvesterstudio8579
    @silvesterstudio85793 жыл бұрын

    Good

  • @CG-sw3mq
    @CG-sw3mq7 жыл бұрын

    I thought, according to my professor, we can never accept a hypothesis. We can only choose to reject or choose not reject, is this true?

  • @jonathanronaldmullereghan2263

    @jonathanronaldmullereghan2263

    7 жыл бұрын

    You can ... We have a null hypothesis and an alternate hypothesis so if for example if you reject your null hypothesis if your p value is below the 5% significance level(alpha = 0,05), then you accept the alternate hypothesis. Howeve, you can accept the null hypothesis if the p value is greater than alpha which means you will reject the alternate hypothesis. So one way or the other, rejecting one hypothesis means accepting the other.Hope it helped

  • @palashrathore6277
    @palashrathore62773 жыл бұрын

    is this the voice of Andrew ng?

  • @trucomment
    @trucomment4 жыл бұрын

    well i failed statistics 2 terms in a row, now i feel like i can teach it...

  • @ShakilAhmedecho
    @ShakilAhmedecho4 жыл бұрын

    Make more videos pls.

  • @sarahbardeskar2269
    @sarahbardeskar22692 жыл бұрын

    best best best!!!!!!!!!!!!!

  • @kalinannonimous5878
    @kalinannonimous5878 Жыл бұрын

    HUGE