The true parameter mean may be predicted by using
A) either hypothesis testing or known variance values
B) either hypothesis testing or interval estimation
C) either interval estimation or its opposite, confidence intervals
D) none of these

Question

Quizplus · Accepted Answer

Hypothesis testing allows us to determine whether a particular parameter value is plausible given the available data and knowledge. Interval estimation, on the other hand, provides a range of plausible values for the parameter of interest. Both methods can be used to make inferences about the population mean, but interval estimation is generally preferred because it provides more information about the possible range of values for the parameter, rather than simply a yes/no answer as with hypothesis testing. Therefore, either hypothesis testing or interval estimation is the best choice for predicting the true parameter mean.

The True Parameter Mean May Be Predicted by Using