Explain briefly what is meant by the terms; ‘point estimate’ ‘interval estimate’ Why do statisticians prefer to use an interval estimate, rather than a point estimate, when estimating the true value of a population parameter?
Explain briefly what is meant by the terms; ‘point estimate’ ‘interval estimate’ Why do statisticians prefer to use an interval estimate, rather than a point estimate, when estimating the true value of a population parameter?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 13PPS
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Explain briefly what is meant by the terms;
‘point
‘interval
Why do statisticians prefer to use an interval estimate, rather than a point
estimate, when estimating the true value of a population parameter?
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