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What is the standard error, the best estimate for the parameter, the lower and upper limits...

What is the standard error, the best estimate for the parameter, the lower and upper limits of a 95% confidence interval?

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Answer #1

Standard Error

The standard error (SE) of a statistic is the approximate standard deviation of a statistical sample population.

In statistics, a sample mean deviates from the actual mean of a population, this deviation is the standard error of the mean.

The best estimate for the parameter

A point estimate is the best estimate, of the population parameter. While the most well known estimator is the sample mean which produces an estimate of the population mean.

Lower limit of 95% Confidence Interval

z value for 95% confidence level = 1.96

Now,

Upper limit of 95% Confidence Interval

z value for 95% confidence level= 1.96

Now,

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