Elementary Statistics: A Step-by-Step Approach with Formula Card 9th Edition

Published by McGraw-Hill Education
ISBN 10: 0078136334
ISBN 13: 978-0-07813-633-7

Chapter 7 - Confidence Intervals and Sample - 7-1 Confidence Intervals for the Mean When σ Is Known - Exercises 7-1: 1

Answer

An interval estimate is a range of values but point estimate is a specific value. Point estimate is better because it's a specific value.

Work Step by Step

Write the definition of both in your own words and then compare them/ say which ones better.
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