What is the term for a range or interval of values that has a stated probability of containing an unknown population parameter?
A) point estimate
B) confidence interval
C) confidence limits
D) interval estimate

Question

Quizplus · Accepted Answer

A confidence interval is a range of values that is likely to contain the true population parameter. It is calculated based on a sample statistic and a degree of confidence, typically 95%. This interval estimate provides a range of plausible values for the unknown parameter. Point estimate refers to a single value that is used to estimate an unknown population parameter. Confidence limits refer to the upper and lower bounds of a confidence interval.

What Is the Term for a Range or Interval of Values