The value added to and subtracted from a point estimate in order to develop an interval estimate of the population parameter is known as the
A) confidence level.
B) margin of error.
C) parameter estimate.
D) planning value.

Question

Quizplus · Accepted Answer

The margin of error is the value added to and subtracted from a point estimate to develop an interval estimate of the population parameter. A confidence level is the probability that the interval estimate contains the true population parameter. Parameter estimate refers to the point estimate itself, and planning value is not a relevant concept in this context.

The Value Added to and Subtracted from a Point Estimate