The range notation says the following to the calculator: I am not sure about the exact number here, but I am 95% sure it’s somewhere in this range.
That’s it. I thought long and hard about this, and I got to the conclusion that simplicity is key. Yes, we could have notations for different probability distributions, for different confidence levels, for truncations, for covariance, and so on. But that would also make it harder to understand. My assumption is that, if you’re already cozy enough with things like confidence levels, you’ll want to use something more sophisticated anyway. Here, we’re interested in unlocking the power of statistics to a broad audience. (View Highlight)
The computation is quite slow. In order to stay as flexible as possible, I’m using the Monte Carlo method. Which means the calculator is running about 250K AST-based computations for every calculation you put forth. (View Highlight)
