SOLUTION: Given the Confidence Interval, find the Point Estimate
(86.5 , 97.8)
Algebra.Com
Question 1179848: Given the Confidence Interval, find the Point Estimate
(86.5 , 97.8)
Answer by CPhill(2189) (Show Source): You can put this solution on YOUR website!
**Understanding Point Estimates**
A point estimate is a single value that best approximates the population parameter. It's the midpoint of the confidence interval.
**Calculation**
To find the point estimate, you take the average of the lower and upper bounds of the confidence interval.
**Applying the Formula**
Point Estimate = (Lower Bound + Upper Bound) / 2
Point Estimate = (86.5 + 97.8) / 2
Point Estimate = 184.3 / 2
Point Estimate = 92.15
**Answer**
The point estimate is 92.15.
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