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Statistics : Point Estimate and Confidence Interval

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Please help answer the following statistics question. Provide a detailed explanation with that is at least 300 words.

What is the difference between a point estimate and a confidence interval?

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Solution Summary

This posting helps with an hypothesis testing problem. The difference between a Point Estimate and a Confidence Interval is discussed. The solution is detailed and well presented. The response received a rating of "5/5" from the student who originally posted the question. The explanation is given in a total of 316 words.

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Problem: What is the difference between a point estimate and a confidence interval?

Solution:
The point estimate is the specific value taken as the estimate of a parameter. When a parameter (eg. mean , standard deviation, correlation ...) is being estimated, the estimate can be either a single number or it can be a range of scores. If the estimate is a single number, the estimate is called a ...

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