Answer
The point estimator of the population mean is the value of a sample statistic that is used to estimate a population parameter.
The maximum error of the estimate is calculated in two ways depends on two considerations:
The standard deviation $\sigma_{\bar{x}\ }$ of the sample mean $\bar{x}\ $.
The level of confidence to be attached to the interval. The confidence interval is given as: point estimate ± Margin of error.
Work Step by Step
The point estimator of the population mean is the value of a sample statistic that is used to estimate a population parameter.
The maximum error of the estimate is calculated in two ways depends on two considerations:
The standard deviation $\sigma_{\bar{x}\ }$ of the sample mean $\bar{x}\ $.
The level of confidence to be attached to the interval. The confidence interval is given as: point estimate ± Margin of error.
