In parameter estimation, the range in which a population parameter is believed to fall is known as a
A) standard error of the mean.
B) confidence interval.
C) confidence level.
D) true mean.

Question

Quizplus · Accepted Answer

A confidence interval is a range of values around a sample statistic, such as the sample mean, in which we are fairly certain that the population parameter falls. The width of the interval is determined by the desired level of confidence, typically 95% or 99%. The standard error of the mean refers to the variability of sample means around the population mean. The confidence level is the degree of confidence we have in the estimate. The true mean refers to the actual, unknown value of the population parameter.

In Parameter Estimation, the Range in Which a Population Parameter