Determine the point estimate of the population mean and margin of error for the confidence interval. Lower bound is 21, upper bound is 29. The point estimate of the population mean is The margin of error for the confidence interval is
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Step 1: Calculate the point estimate of the population mean using the formula: \[ \text{Point Estimate} = \frac{\text{Lower Bound} + \text{Upper Bound}}{2} \] \[ \text{Point Estimate} = \frac{21 + 29}{2} = \frac{50}{2} = 25 \] Show more…
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