STATISTICAL TECHNIQUES AND TOOLS
CONCEPT OF POINT AND INTERVAL ESTIMATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False, it’s interval estimate
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Either A or B
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None of the above
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Detailed explanation-1: -The correct answer is A) A sample statistic is a point estimate of a population parameter is true. This is because a sample statistic can be used to figure out the estimate of a population parameter.
Detailed explanation-2: -point estimation, in statistics, the process of finding an approximate value of some parameter-such as the mean (average)-of a population from random samples of the population.
Detailed explanation-3: -Answer and Explanation: The point estimate of the population mean is the sample mean. Creating a confidence interval estimate involves estimate the population mean using the mean of a sample taken from the population and calculating the margin of error for the estimate.
Detailed explanation-4: -A point estimate of a parameter is a value (based on a sample) that is a sensible guess for . A point estimate is obtained by a formula (“estimator”) which takes the sample data and produces an point estimate. Such formulas are called point estimators of .