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Determine the point estimate of the population mean and margin of
error for the confidence interval with lower bound 19 and upper bound: 27.

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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