What is an interval estimate?[br][br][b][color=#A83E49]Question ...

[jCorn1234]

What is an interval estimate?

Question 2

Briefly, what is the difference between a point estimate and an interval estimate for a population parameter?

[brbarasa]

Answer to Question 1

An interval estimate is a range of values within which the actual value of the population parameter, such as  or , may fall.

Answer to Question 2

While the point estimate is a single number (e.g., x or p) that estimates the exact value of a population parameter of interest (e.g.,  or ) an interval estimate includes a range of possible values that are likely to include the actual (but unknown) population parameter.

[jCorn1234]

Thanks for the timely response, appreciate it

[dantucker]

Great answer, keep it coming