Question

The results of a poll show that the true proportion of students who prefer the new schedule is likely in the interval (0.195,0.245).
What is the point estimate of the proportion of students who prefer the new schedule

Answer 1

The point estimate of the proportion of students who prefer the new schedule is 0.22.

Definition of Point Estimate

Point estimation is a technique used in statistics to determine a single value that will serve as the "best guess" or "best estimate" of an unidentified population characteristic, known as the point estimate. More precisely, in order to produce a point estimate, we apply a point estimator to the data.

For the confidence interval (0.195, 0.245), point estimate is calculated as follows,

p = (0.195 + 0.245) / 2

p = 0.44 / 2

p = 0.22

Hence, the point estimate of the proportion of students who prefer the new schedule comes out to be 2.2.

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