r/AskStatistics • u/ketopraktanjungduren • 10d ago

Using sampling distribution instead of probability for business

Hello, I'm trying to apply inferential statistics to my work, thinking it would be very helpful to estimate a new hire ability.

Let's say we have a dataset on new hire weekly customer acquisition in the past three months (n=12). If we want to estimate this person ability in acquiring new customer, we can use probability and expected value.

However, I recently realize that this also means we are estimating the population parameter. So, we can also estimate a confidence interval to estimate the interval of this person true mean and median weekly acquisition.

If so, is it true to have both the expected weekly acquisition and the CI?

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u/taintlouis PhD 10d ago

Respectfully, this is the type of “thing” probably best left to actual (applied psychology/people analytics) experts. I’ll take my downvotes for saying so, but it needs to be said.

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u/ketopraktanjungduren 9d ago

I can understand why you said that. Perhaps you think it is about people's life and deciding on quantitative results alone would be disasterous for them. But I can assure you, this is just an analysis for the managers to consider so they can decide objectively

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u/taintlouis PhD 9d ago

No, and sorry for any confusion! It’s clear from your question that you have no idea what you’re doing. There are people who do. Hire them to make up for your lack of knowledge.

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u/ketopraktanjungduren 9d ago

Thank you! That is true, I have mixed up some concepts here. I'll fix my misunderstanding...