Why is interval estimation generally preferred over point estimation?

  • Because it gives more accurate results
  • Because it is easier to calculate
  • Because it is less affected by outliers
  • Because it provides a range of possible values rather than a single point
Interval estimation is generally preferred over point estimation because it provides a range of possible values rather than a single value. This range of values gives a better understanding of the uncertainty around the estimate, hence, it provides more information than a single point estimate.
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