Determine the point estimate of the population mean and margin of error for the confidence interval.
Lower bound is 15, upper bound is 27.
A)The point estimate of the population mean is ________.
B) The margin for error for the confidence interval is _______.
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To determine the point estimate of the population mean, you can use the midpoint of the confidence interval.
A) The point estimate of the population mean is calculated as the average of the lower and upper bounds of the confidence interval. In this case:
Point estimate = (Lower bound + Upper bound) / 2
Point estimate = (15 + 27) / 2
Point estimate = 42 / 2
Point estimate = 21
Therefore, the point estimate of the population mean is 21.
B) The margin of error for the confidence interval is calculated by finding the difference between the point estimate and either the lower or upper bound of the confidence interval, since the confidence interval is symmetrical around the point estimate. In this case, you can calculate the margin of error by subtracting the lower bound from the point estimate:
Margin of error = Point estimate - Lower bound
Margin of error = 21 - 15
Margin of error = 6
Therefore, the margin of error for the confidence interval is 6.
To determine the point estimate of the population mean, you need to find the midpoint of the confidence interval. In this case, the lower bound is 15 and the upper bound is 27.
The formula to calculate the midpoint is (lower bound + upper bound) / 2.
A) Point estimate of the population mean = (15 + 27) / 2 = 42 / 2 = 21
So, the point estimate of the population mean is 21.
To determine the margin of error for the confidence interval, you need to find the difference between the point estimate and either the lower or upper bound of the confidence interval.
The formula to calculate the margin of error is (upper bound - point estimate) or (point estimate - lower bound).
B) Margin of error = (upper bound - point estimate) = 27 - 21 = 6
So, the margin of error for the confidence interval is 6.
The mean is the middle, so take 15 + 27, then divide by 2.
The margin of error will be the difference between the mean and the upper bound or the mean and the lower bound.