When estimating a population mean, are you more likely to be correct when you us

Question

When estimating a population mean, are you more likely to be correct when you use a point estimate or an interval estimate? Explain your reasoning. Choose the coned answer below. A. You are more likely to be correct using an interval estimate because it is unlikely that a point estimate will exactly equal (he population mean B. You are more likely to be correct using a point estimate because an interval estimate is too broad and contains many possible values C. If n lessthanorequalto 30 an interval estimate is more accurate. If n > 30 a point estimate is more accurate. D. There is no difference between an interval estimate and a point estimate in terms of accuracy.

Explanation / Answer

Answer:

A). You are more likely to be correct using an interval estimate because it is unlikely that a poit estimate will exactly equal the population mean.

Note: The point estimate is the best guess of the true value of the parameter, while the interval estimate gives a measure of the accuracy of that point estimate by providing an interval that contains plausible values.

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