Asked by nana yaw Ansah Antwi on Sep 29, 2024
An interval estimate is a range of values within which the actual value of the population parameter,such as μ,may fall.
Interval Estimate
An estimate of a parameter that provides a range of possible values within which the parameter is expected to lie, specified by a confidence level.
Population Parameter
A numerical characteristic that describes an aspect of a population, such as its mean or variance.
Actual Value
The real value observed or measured, as opposed to an estimated or theoretical value.
- Discriminate between point estimates and interval estimates.
- Comprehend the formation and elucidation of confidence intervals.
Learning Objectives
- Discriminate between point estimates and interval estimates.
- Comprehend the formation and elucidation of confidence intervals.