Asked by
Leeraine Lopez
on Nov 26, 2024
Verified
Which of the following statements is correct?
A) A point estimate is an estimate of the range of a population parameter.
B) An interval estimate is an estimate of the range for a sample statistic.
C) A point estimate is a single value estimate of the value of a population parameter.
D) An interval estimate is an estimate of the value of a population parameter.
E) A point estimate is an estimate of the midpoint of the range for a sample statistic.
Point Estimate
A single value given as the best guess or estimate of a population parameter based on sample data.
Interval Estimate
An interval estimate is a range of values derived from sample statistics that is likely to contain the value of an unknown population parameter.
Population Parameter
A numerical value summarizing the entire population that can often be estimated by a statistic derived from a sample.
- Perceive the difference between point estimates and interval estimates, together with the procedure for calculation and the significance of the margin of error.
Verified Answer
JS
Learning Objectives
- Perceive the difference between point estimates and interval estimates, together with the procedure for calculation and the significance of the margin of error.