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How do you find the point estimate from a confidence interval?
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Answer
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Step 1
Understand the problem: A confidence interval provides a range of likely values for a population parameter based on a sample. The point estimate is the best single guess for the value of the population parameter. It is simply the midpoint of the confidence interval.
Step 2
Identify the confidence interval: A confidence interval is typically expressed as (lower limit, upper limit). For example, if the confidence interval for a mean is (45, 55), the lower limit is 45 and the upper limit is 55.
Final Answer
The point estimate for the population parameter, based on the given confidence interval (45, 55), is 50.
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