What is the basic idea behind using a confidence interval to estimate a populati

Question

What is the basic idea behind using a confidence interval to estimate a population parameter (such as the population mean)?

We look at the entire population or process and try to find a range of values that contain a certain percentage of the population, for example, 95% or 99% of the population.

We take a sample from a population or process and use the sample size, n, as a “reasonable value” or “good guess” for the true value of the population size.

We take a sample from a population or process and determine whether one particular value, or “guess,” of the population parameter is a reasonable value, given the data that we have observed.

We look at the entire population or process and try to find a range of values that contain a certain percentage of the population, for example, 95% or 99% of the population.

We take a sample from a population or process and, fixing our attention on one estimated value of the parameter (such as the sample mean, ) we find a range of “reasonable values” or “good guesses” for the true value of the parameter.

We take a sample from a population or process and use the sample size, n, as a “reasonable value” or “good guess” for the true value of the population size.

We take a sample from a population or process and determine whether one particular value, or “guess,” of the population parameter is a reasonable value, given the data that we have observed.

We take a sample from a population or process and, fixing our attention on one estimated value of the parameter (such as the sample mean, ), we design a process that can manufacture butterfly nets to a certain degree of precision.

Explanation / Answer

We take a sample from a population or process and, fixing our attention on one estimated value of the parameter (such as the sample mean), we design a process that can manufacture butterfly nets to a certain degree of precision.

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