Let's say that I want to estimate the number of cars that pass my house every minute. I count 30 cars in 10 minutes, and I want to use this to generate a confidence interval. How should I do this?
The point estimate would be 3 cars/minute, but I don't know how inaccurate this estimate could be. How would I go about computing a confidence interval?
I have the feeling that 30 cars in 10 minutes may not be enough data. Would I have to record the amount of time between each car?