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Sagot :
Using confidence interval concepts, it is found that:
- The point estimate of the population mean is of 23.
- The margin of error is of 4.
Given a confidence interval what are the point estimate of the population mean and the margin of error?
- A confidence interval has two bounds, a lower bound and an upper bound.
- A confidence interval is symmetric, which means that the point estimate used is the mid point between these two bounds, that is, the mean of the two bounds.
- The margin of error is the difference between the two bounds, divided by 2.
In this problem, the interval is (19,27), hence the point estimate is:
P = (19 + 27)/2 = 23.
The margin of error is:
M = (27 - 19)/2 = 4.
More can be learned about confidence interval concepts at https://brainly.com/question/25890103
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