Question

A 90% confidence interval for the mean percentage of airline reservations being canceled on the day of the flight is (1.3%, 5.1%). What is the point estimate of the mean percentage of reservations that are canceled on the day of the flight?

Answer 1

Answer: The point estimate for the mean is 3.2% and the margin of error is 1.9% .

Step-by-step explanation:

The confidence interval for population mean is given by :-

$\mu\pm E$, where E is the margin of error .

Given : A 90% confidence interval for the mean percentage of airline reservations being canceled on the day of the flight is (1.3%, 5.1%).

Lower limit of the confidence interval : $\mu-E=1.3\%$                 (1)

Upper limit of the interval :  $\mu+E=5.1\%$                                 (2)

Adding (1) and (2) , we get

$2\mu=6.4\%\\\\\Rightarrow\mu=3.2\%$

Now, Subtracting (1) from (2) , we get

$2E =3.8\%\\\\\Rightarrow\ E=1.9\%$

Hence, the point estimate for the mean is 3.2% and the margin of error is 1.9% .