Given a number of points (i.e.
[1.1,3.0,0.3,9.9,2.4]), which are random samples of a parameter.
I want to give an estimate about the range, in which the parameter varies.
The min/max-range is
[0.3,9.9]. However the range could be greater, since i only have samples and not the whole population.
I want to calculate something like
"i'm 99%/95% sure that the interval is [0.1,11.1]/[0.2,10.1]".
What do you need for assumptions (i.e. the samples follow normal distribution) for this and how do you calculate it?
I read about
Confidence intervals, but from my understanding this is something related, but not the same as i am looking for.