Statistics 10/50
Lecture 10


LECTURE 10: EXPECTED VALUES AND STANDARD ERRORS

A. Background

Can we predict the future? In a way, yes. For example, it's Friday and if you commute, you'd probably predict it will take you longer to drive home tonight than it does on other nights.

A problem with our predictions is there is always the chance for error So even though we know tonight's commute will take longer, it's tough to say how much longer.