The following confidence interval is obtained for a population proportion, p:0.556 < p < 0.584. What is the point estimate, p?
To find the point estimate of p, take 0.556 + 0.584, then divide by 2.
To find the point estimate, p, we can take the average of the lower and upper bounds of the confidence interval. In this case, the lower bound is 0.556 and the upper bound is 0.584.
Therefore, the point estimate, p, is (0.556 + 0.584) / 2 = 0.57.
The point estimate represents the best estimate for the true value of the population proportion based on the given interval.