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Author Question: What is an interval estimate?[br][br][b][color=#A83E49]Question 2[/color][/b][br][br]Briefly, what ... (Read 150 times)

jCorn1234

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on: Jun 24, 2018
What is an interval estimate?

Question 2

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


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brbarasa

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Reply #1 on: Jun 24, 2018
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

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

sultansheikh

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Reply 3 on: Yesterday
:D TYSM

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