What is the role of standard error in interval estimation?
- Standard error determines the shape of the distribution of the sample means
- Standard error is not related to interval estimation
- Standard error is used to calculate the margin of error, which determines the width of the confidence interval
- Standard error is used to calculate the sample mean, which is the center of the confidence interval
The standard error plays a crucial role in interval estimation. It is used to calculate the margin of error, which determines the width of the confidence interval. The standard error measures the variability of the sample mean around the population mean. A smaller standard error will result in a narrower confidence interval, assuming the confidence level is constant.
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