Question

Determine the point estimate of the population mean and margin of error for the confidence interval with lower bound 7 and upper bound 25.

Answer 1

Answer:

Point estimate is 16 and Margin of error is 9

Step-by-step explanation:

The point estimate is given by the following formula:

Point estimate = (Lower Bound + Upper Bound) / 2

Replacing we have:

Point estimate = (7 + 25) / 2 = 32/2

Point estimate = 16

Now, the margin of error is given by the following equation:

Margin of error = (Upper Bound - Lower Bound) / 2

Margin of error = (25 -7) / 2 = 18/2

Margin of error = 9