A number added to and subtracted from a point estimate to create an approximate 95% confidence interval is known as
A) cluster of points.
B) bound on sampling error.
C) area point estimation.
D) systematic sampling error.

Question

Quizplus · Accepted Answer

The number added to and subtracted from a point estimate to create an approximate 95% confidence interval is known as a bound on sampling error. This is because the confidence interval represents a range of values within which we are 95% confident that the true population parameter falls, and the bound on sampling error is the maximum amount of error we can tolerate while still maintaining that level of confidence. The other options are not applicable to this concept.

A Number Added to and Subtracted from a Point Estimate