Point estimate intervals

Improving Your Data Visualizations in Python

Nick Strayer

Instructor

Diagram of white and black points enclosed in a box labeled population

A small sample of black and white points is drawn from the larger population of dots

Multiple small samples of black and white dots are drawn from the larger population of dots

When is uncertainty important?

Needs uncertainty

Estimates from sample
- Average of a subset
- Linear model coefficients

Doesn't need uncertainty

Facts
- Counts
- Summaries of an entire population

Why is uncertainty important?

Helps inform confidence in estimate
Necessary for decision making
Acknowledges limitations of data

Skydiver supported by parachute

Grid of many small samples of white and black dots

Confidence interval diagram showing lower and upper boundaries below greyed out sample grid

plt.hlines(xmin='lower', xmax='upper', y='y', data=data, 
           linewidth=5, color='steelblue', alpha=0.5)

# Point-estimate for reference
plt.plot('est', 'y', 'k|', data = data)

Basic confidence interval plot with horizontal blue bars with white center point

Let's show some uncertainty!

Improving Your Data Visualizations in Python