Q6 What is necessary for an interval estimate to be a confidence interval? [1 Mark] DO...

Q6

What is necessary for an interval estimate to be a confidence interval? [1 Mark]

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Expert Solution

A point estimate is an estimate of a particular statistic. Suppose you predict that your percentage in the final exams will be 79%. This is called a point estimate.

An Interval estimate can be like

This will be called an interval estimate.

Then comes the confidence interval which has a probability attached to it.

You say I am 90% sure that my percentage will be within a particular interval.

Here we have a mean and standard deviation, Suppose your average percentage over the years has been 80% and the standard deviation is around 5% and you want to know the average percentage of 10 subjects you have given an exam to.

Then a 90% confidence interval will be given by

So 90% confidence interval of the average percentage of 10 subjects will be within (77.4,82.6)

orchestra answered 1 year ago

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