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A safe estimate is always rounded up to be "safe" (i.e. Estimating the total miles of a trip with a 22 mile leg and a 34 mile leg would be done using 25 and 35).
An ordinary estimate is just rounding to the nearest whole digit to estimate (i.e. Estimating the total miles of a trip with a 22 mile leg and a 34 mile leg would be done using 20 and 35).
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What is a safe estimate?
It is an estimate that is quite safe
Is the sample mean a point estimate of the population mean?
A point estimate of a population parameter is a single value of a statistic. For example, the sample mean x is a point estimate of the population mean μ. Similarly, the sample proportion p is a point estimate of the population proportion P.
True or false the sample mean is a point of estimate of the population mean?
Nearly true. It is a point estimate, not point ofestimate.
TO ESTIMATE THE AVERAGE AGE OF STUDENTS A SAMPLE OF 50 PARTICIPANTS WAS OBTAINED, WITH A MEAN OF 16 AND A POPULATIONAL VARIATION OF 9, calculate:* POINT ESTIMATE OF THE MEANS* 95% AND 99% CONFIDENCE INTERVAL ESTIMATES FOR THE MEANS?
Point Estimate of the Mean: The point estimate of the mean is 16, since this is the sample mean. 95% Confidence Interval Estimate for the Mean: The 95% confidence interval estimate for the mean can be calculated using the following formula: Mean +/- Margin of Error = (16 +/- 1.96*(9/sqrt(50))) = 16 +/- 1.51 = 14.49 to 17.51 99% Confidence Interval Estimate for the Mean: The 99% confidence interval estimate for the mean can be calculated using the following formula: Mean +/- Margin of Error = (16 +/- 2.58*(9/sqrt(50))) = 16 +/- 2.13 = 13.87 to 18.13
Is the point estimate the same as the average?
No. The average of a dataset is the point estimate for the mean of the population.
