Question

Determine the point estimate of the population mean and margin of error for the confidence interval with lower bound  29  and upper bound:  45 .

Answer 1

Solution

Given the confidence interval for the population mean   is (29,45)

i.e. upper bound = 45

lower bound = 29

We know that the confidence interval is nothing but

point estimate margin of the error

So,

upper bound = point estimate + margin of error

lower bound = point estimate - margin of error

Solving these two equations , we get

point estimate =   

= (45 + 29)/2

= 37

Margin of error =

= (45 - 29)/2

= 8