Question: What is the difference between a point estimate and an interval estimate of a parameter? Which is better? Why? What is the maximum error of

What is the difference between a point estimate and an interval estimate of a parameter? Which is better? Why?

  1. What is the maximum error of the estimate?
  2. What are three properties of a good estimator?

Problem Solving

Reading Scores A sample of the reading scores of 35 fth-graders has a mean of 82. The standard deviation of the population is 15.

a. Find the best point estimate of the mean.

b. Find the 95% condence interval of the mean reading scores of all fth-graders.

c. Find the 99% condence interval of the mean reading scores of all fth-graders.

d. Which interval is larger? Explain why.

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