A point estimate is a single value or best guess of what the unknown number is from the data collected. A Confidence interval is a range of possible values ex. the values are between
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1. Take a random sample of the number of bottles produced per minute. Calculate the average by adding together all the values and dividing by the total count of the values. If the
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A point estimate of a population parameter is a single value of a statistic while statisticians use a confidence interval to express the precision and uncertainty associated with
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Assuming that other measures remain the same, as the sample. estimate. increases both ends of the confidence interval will increase. In effect, the confidence interval will be translated
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