This is a statistics question but I don't know how to phrase it in statistician's parlance, so I'm going to ask it in electrical engineering terms. You should be able to follow it easily though. I'm hoping that it won't be migrated /closed as it really is just applied statistics.
I have a totally random voltage that is called white noise. It's the stuff you hear in between radio stations on your tranny. That means that it is effectively normally distributed. By the definition of white noise, there is no simple upper limit to the rate at which this noise can change it's value. It may be millions of times a second. I don't know the mean or standard deviation, but when I look at a graph of it's values, they kinda go from 0 - 1 volt. Some times due to the random nature, they go higher. They might reach 1.5 volts. This is all assessed by inspection alone. I have no control over this noise as it is generated by physical processes and quantum mechanics.
I now sample this random voltage 10,000 times during the period of 1 second. With these samples recorded, is it possible to say with any confidence what the maximum voltage might be? And what would that confidence be?
This question is reminiscent of my A Level maths statistics but I'm having trouble applying it. I believe that it should be possible to determine something like it is <1.8 volts for 99% of the time. I'm really looking for concrete numbers rather than a theorem as I need to build stuff to utilise these findings.