Determine the point estimate of the population mean and marg
Determine the point estimate of the population mean and margin of error for the confidence interval.
Lower bound is 20, upper bound is 26
a) The point of estimate of the population mean is_
b) The margin of error for the confidence interval is_
Solution
a) The point of estimate of the population mean is
mean=(20+26)/2 = 23
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b) The margin of error for the confidence interval is
mean - margin of error =20
So margin of error= 23-20=3
