Which of the following is a difference between interval estimates and point estimates?
A) Point estimates cannot be used to calculate statistical error, while interval estimate is used to calculate statistical error.
B) Point estimates provide only a single value for a sample, while interval estimates provide a range of values.
C) Point estimates indicate the magnitude of potential error in the estimate, while interval estimates don't.
D) Point estimates on an average provide more information than interval estimates.

Question

Quizplus · Accepted Answer

Point estimate is a single value estimate for an unknown parameter, whereas interval estimate provides a range of values within which the parameter value is likely to lie. Therefore, option B is the correct difference between interval and point estimates.

Which of the Following Is a Difference Between Interval Estimates