I’m trying to determine a valid method for quantifying the maximum spread of values I can statistically expect to see.
I’ve collected 12 sensor values from 12 different sensors. I’ve calculated the mean of the data and the standard deviation and then calculated 1.96 standard deviations from the mean, this gives me a wide spread of the data. But this assumes the mean remains stationary. Is it not therefore fairer to calculate the 95% confidence interval for the mean and the calculate the spread of data (1.96 standard deviations) from the max and min of the means within the confidence bound? Is this valid given the sensor measurements are not mean sensor values, but rather just a one off reading from the sensor?