the value added and subtracted from a point estimate in order to develop an interval estimate of the population parameter is known as the? interval estimate. confidence level. parameter estimate. margin of error

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Siimbo6798 Siimbo6798

19-12-2022
Mathematics

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the value added and subtracted from a point estimate in order to develop an interval estimate of the population parameter is known as the? interval estimate. confidence level. parameter estimate. margin of error

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awidyarini awidyarini · Answer 1 · 2022-12-23T00:17:10-05:00

The value added and subtracted from a point estimate in order to develop an interval estimate of the population parameter is known as the margin of error. The correct answer is the last option.

What is margin of error?

A margin of error is a statistical measurement that accounts for the difference between actual and projected results in a random survey sample. In simpler terms, the margin of error allows you to gauge the level of unpredictability in data and research outcomes.

The formula for the margin of error is calculated by multiplying a critical factor (for a certain confidence level) with the population standard deviation. Then the result is divided by the square root of the number of observations in the sample.

Learn more about margin of error at: https://brainly.com/question/10501147

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