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?© BrainMass Inc. brainmass.com March 4, 2021, 6:18 pm ad1c9bdddf
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Problem: What is the difference between a point estimate and a confidence interval?
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 ...
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.