Question

The results of a poll show that between 75% and 83% of consumers prefer Chip A to Chip B. What is the point estimate for the percent of consumers that prefer Chip A to Chip B?
79%
8%
75%
83%

Answer 1

Answer:

79%

Step-by-step explanation:

First of all, the point estimate is a value located in between the upper confidence limit and the lower confidence limit, it identifies a point in some parameter space.

This question provides us with an interval estimate which is a range of values used to estimate a population parameter.

Interval Estimate = 75% to 83%

75% = Lower confidence limit

83% = Upper confidence limit

Point estimate = middle value

= $\frac{75+83}{2} = \frac{158}{2}$

= 79%

Answer 2

Answer:79%

Step-by-step explanation: