The answer to Point estimate
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During the month of July, an auto manufactures gives its production employees a vacation period so it can tool up for the new model run. In surveying a simple random sample of 200 production workers, the personnel director finds that 38% of them plan to vacation out of state for at least one week during this period. Is this a point estimate or an interval estimate? Please explain.
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Solution Summary
This solution explains the difference between a point estimate and an interval estimate of a population proportion.
Solution Preview
This is a point estimate. The sample proportion (the 38% of the 200 sampled) is a single point on a number line (hence ...
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