How to find the point estimate of a population mean

Asked by admin @ 28/10/2021 in Mathematics viewed by 277 People

g Determine the point estimate of the population mean and margin of error for the confidence interval. Lower bound is 21, upper bound is 25. The point estimate of the population mean is nothing. The margin of error for the confidence interval is nothing.

Answered by admin @ 28/10/2021

Answer: The point estimate of the population mean is 23. The margin of error for the confidence interval is 2.

Step-by-step explanation:

The confidence interval for the mean is of the form is given by :-

$\overline{x}-\text{error}\leq\mu\leq\overline{x}+\text{error}$

Given : Lower bound: $\overline{x}-\text{error}=21$

Upper bound : $\overline{x}+\text{error}= 25$

Then ,the sum of lower and upper bound will be :-

$2\overline{x}=21+25=46\\\\\Rightarrow\ \overline{x}=23$

Since $\overline{x}-\text{error}=21$

$\Rightarrow\ \text{Error}=\overline{x}-21=23-21=2$

Hence, The point estimate of the population mean is 23. The margin of error for the confidence interval is 2.

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