6.2. Basic Concepts of Confidence Intervals
The development of the sampling distribution of the statistic of interest is crucial for being able to use the sample statistic to draw a conclusion about a population parameter. However, the results of a sample statistic, such as the mean, computed from a single sample, provides only a point estimate of the population parameter. The point estimate is a single value and will almost certainly be different if you select a different sample. Thus, statisticians have developed an interval estimate in which you estimate the value of the characteristic for the entire population with a specific degree of certainty with a lower and upper limit.
To develop the concept of the interval estimate, return to the example ...
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