This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain how point estimates and confidence interval estimates are related and the role of confidence ... (Read 111 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
on: Jun 29, 2018
Explain how point estimates and confidence interval estimates are related and the role of confidence level in this relationship.

Question 2

If the feedback mechanism raises a red flag, all of the following can be possible adjustments except
 a. change strategy c. change goal
  b. change objective d. change budget


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

AmberC1996

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

A point estimate is an estimate of the population mean in the form of a single value, usually the sample mean. A confidence interval estimate is a specified range of numbers within which a population mean is expected to lie. It is an estimate of the population mean based on the knowledge that it will be equal to the sample mean plus or minus a small sampling error. The confidence level is a percentage or decimal value that tells how confident a researcher can be about being correct. It states the long-run percentage of confidence intervals that will include the true population mean.

Answer to Question 2

C
The three possible adjustments are to change the strategy and tactics, change the objective, and/or change the budget.


OSWALD

  • Member
  • Posts: 580
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

triiciiaa

  • Member
  • Posts: 349
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

One-point linear perspective. One-point linear perspective.
For Gulf War veterans, lack of social support in the field is related to postwar depression. The ... For Gulf War veterans, lack of social support in the field is related to postwar depression. The ...
Stereotypes, which play such a profound role in social life, are a basic area of sociological ... Stereotypes, which play such a profound role in social life, are a basic area of sociological ...
How to find the equation of a line that is parallel to a line passing through a point How to find the equation of a line that is parallel to a line passing through a point
Relationship Between the Atlas and the Axis. The Dens of the Axis Provides a Pivotal Point Around Wh Relationship Between the Atlas and the Axis. The Dens of the Axis Provides a Pivotal Point Around Wh
Concepts related to stress and coping Concepts related to stress and coping
Video: Simple and Double Sugar

For a complete list of videos, visit our video library