Question

Unfortunately, a sample (even a representative sample) is very unlikely to yield a statistic that is exactly the same as the corresponding parameter. For this reason, a confidence interval can be constructed by adding and subtracting an amount (known as the standard error) to a sample statistic (known as the point estimate). With the results, a confidence interval provides a range of plausible values for the true parameter.

True

False

Answer 1

Answer : True

A point estimation is a type of estimation that uses a single value, a sample statistic, to infer information about the population. The true population parameter may be larger or smaller than the sample statistic. Instead of a point estimate,we might want to identify a range of possible values population parameter  might take, controlling the probability that population parameter is not lower than the lowest value in this range and not higher than the highest value. Such a range is called a confidence interval.