Question

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

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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Margin of error =

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