Normally you have a beta distribution with shape parameters $a$ and $b$. The mean of this distribution is $a / (a + b)$ and the sample size, or the confidence (or K) is $a + b$. Now, if you do some ...
I'm more of a programmer than a statistician, so I hope this question isn't too naive. It happens in sampling program executions at random times. If I take N=10 random-time samples of the program's ...