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Achieve the limits that relay in the pre-set parameter

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Example: There are 200 students (population) in one class and we want to get feedback to the class about the particular subject so we randomly select the 10 students and calculate the sample mean from the population mean. We calculate the 60 mean mark from the sample and called point estimate which represents the mean of the entire class or population. Interval estimation is generally looking when there is unacceptable point estimation and we want to achieve the limits that relay in the pre-set parameter which gives the closest result is known as interval estimation.

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Reference no: EM133086597

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