When estimating a population mean, are you more likely to be correct when you use a point estimate or an interval estimate? explain your reasoning.
Question: When estimating a population mean, are you more likely to be correct when you use a point estimate or an interval estimate? explain your reasoning.
When estimating a population mean, you are more likely to be correct using an interval estimate rather than a point estimate. This is because it is unlikely that a point estimate will exactly equal the population mean. An interval estimate provides a range of values that the population mean is likely to fall within, which is more informative than a single point estimate.
For example, if we want to estimate the average height of all students in a school, we could take a sample of students and calculate the sample mean. However, it is unlikely that the sample mean will exactly equal the population mean. An interval estimate provides a range of values that the population mean is likely to fall within, which is more informative than a single point estimate.
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