Definition of a Confidence Interval A confidence interval is a range of likely values for the population parameter based on a point estimate (e.g., the sample mean), a confidence level (e.g., 95%) and the sampling variability or standard error of the point estimate. Usually, analysts will...
An estimator (or estimate) is a statistic that’s used to approximate a population parameter. While there are several types of estimators, the word “estimator” on its own usually refers to a point estimate. A point estimate is a single value (as opposed to an interval, like aconfidence ...
For instance, it will take a lot more sample to find statistically significant differences between groups if you are asking, “What month do you think Christmas is in?” than if you are asking, “How many miles are there between the Earth and the moon?”. In the former, nearly everybody...
However, there is an approach that you can use to determine if the change is significant. This post “How can I calculate margin of error in a NPS result?” provides a very good and detailed response to the question. Please note that the above referenced post equates Standard Error and M...
What’s a Good Click-Through Rate? A "good" or "bad" CTR forsearch adsdepends on multiple factors, but benchmarks can provide useful insights to estimate ROI. WordStream’s ad benchmark reportprovides in-depth figures that outline average CTRs for search advertising across many industries: ...
There’s one GSC feature that doesn’t get enough praise, though—the Crawl Stats report. It’s hard to find but gives you tons of information about how Google crawls your website—information you can use to make sure the search giant indexes your site properly. In this article, I’ll...
In this example, we’ll use theDomain Overviewtool. Domain Overview is primarily a competitive research tool, but it can be a good starting point if you don’t have an analytics tool set up yet. To start, enter your domain name and click "Search." ...
Confidence intervals can be a difficult concept to grasp but they just make intuitive sense when explained in simpler terms. In essence, confidence intervals are as simple as casting a net around information in the form of the point estimate so we capture the true value inside our net. At ...
Why we recommend Semrush: Semrush allows users to estimate traffic for virtually any website, including competitors. While its traffic data is based on estimates, it can provide valuable insights into market trends and competitor strategies, which makes it a great “all-in-one” option for adva...
Sampling with replacement is used to findprobability with replacement. In other words, you want to find theprobabilityof some event where there’s a number of balls, cards or other objects, and you replace the item each time you choose one. Let’s say you had a population of 7 people, ...