Using the sample information given in Exercises $20-21$, give the best point estimate for the population mean $\mu$ and calculate the margin of error: A random sample of $n=50$ observations from a quantitative population produced $\bar{x}=56.4$ and $s^{2}=2.6$.
Added by Montserrat E.
Step 1
The best point estimate for the population mean $\mu$ is the sample mean $\bar{x}$. In this case, $\bar{x} = 56.4$. So, the best point estimate for the population mean is $\boxed{56.4}$. Show more…
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