Determine the point estimate of the population mean and margin of error for the confidence interval with
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Question:
Determine the point estimate of the population mean and margin of error for the confidence interval with lower bound 20 and upper bound 30.
Point Estimate and Margin of Error
A point estimate is a type of statistical method where the approximate value of a population parameter is determined based on the samples drawn from a huge population. On the other hand, a margin of error tends to measure the degree to which the errors could occur in the sample analysis.
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