Asked by Gabrielle Tucker on Sep 29, 2024
The confidence interval estimate of the population mean is constructed around the sample mean.
Confidence Interval
A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter.
Population Mean
The average of a set of characteristics (numeric values) in a population; a parameter that describes the central location of the data.
Sample Mean
The average of all data points in a sample, used as an estimate of the population mean.
- Compare and contrast point estimates with interval estimates.
- Understand the construction and interpretation of confidence intervals.
Learning Objectives
- Compare and contrast point estimates with interval estimates.
- Understand the construction and interpretation of confidence intervals.