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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (13055)	1/21/1999 9:42:00 PM
From: maintenance	Read Replies (1) \| Respond to of 26850

A confidence interval is a probability calculation that tells you what confidence you can attach to your predicted variable. Like when you read a poll they say that 67% of people eat chicken twice a week accurate to within 2% 19 times out of 20. It's been a few years since I did that level of stats so I don't remember that clearly, Chad could offer a better explanation. You can also use a similar technique to calculate what size of bulk sample you need in order to predict grade within a given confidence level. That's the part I'm interested in. I do know that the smaller the expected value and the smaller the population the bigger the sample you need. In our case the population would be the total resource, so you need to make some assumptions. Cheers