What is interval estimation in inferential statistics?
- The process of calculating the standard deviation of a population
- The process of determining the mode of a population
- The process of estimating the mean of a population
- The process of providing a range of values for an unknown population parameter
Interval estimation in inferential statistics is a method by which a range of values is provided that is likely to contain the population parameter. Instead of a single value, it provides an interval of estimates making it more flexible and informative than point estimation.
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