The basic difference between a point estimate and a confidence interval is ________.
A)a point estimate is used to estimate a sample statistic while a confidence interval is used to determine a population parameter
B)confidence intervals are statistically more certain than point estimates
C)a point estimate combines sampling error in a single value while a confidence interval is a range of value estimates
D)a point estimate is a single value while a confidence interval is a range of values

Question

Quizplus · Accepted Answer

A point estimate is a single value that is calculated from a sample and used to estimate a population parameter. On the other hand, a confidence interval is a range of values that is likely to contain the true population parameter with a certain degree of confidence. Thus, the basic difference between a point estimate and a confidence interval is that a point estimate is a single value while a confidence interval is a range of values.

The Basic Difference Between a Point Estimate and a Confidence