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    Point estimate and Interval Estimate of a Parameter

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    Explain the difference between a point estimate and an interval estimate of a parameter? Which is better? Why?

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    A point estimate gives just a single value for the population parameter, which is the sample parameter. For example, the point estimate of the ...

    Solution Summary

    This solution explains the difference between the point estimate and the interval estimate of a parameter by defining both and comparing which is better and why.