Answer to Question #175347 in Statistics and Probability for Denisse Bisuña

Question

1. What measure of central value best estimates the population mean?
2. Why is the interval estimate a preferred value for the population parameter?
3. Which of the following illustrates confidence level?

a. 95%

b. 12.5

c. 50.0

d. 90 - 95

Answer 1

Solution:

1. Mode best estimates the population mean

2. An interval estimate gives us a range of values where the parameter is expected to lie. A confidence interval is the most common type of interval estimate.

3. 95% illustrates confidence interval.