interval estimate definition
There are two main methods: 1. Point estimate: Summarize the sample by a single number. that is an estimate of the population parameter; 2. Interval estimate: A range of values within which, we believe, the true parameter lies with high probability. Example. Suppose I wanted to estimate the mean height of all. female students at UNC. I took a sample in this class and the. sample mean was x= 65:5 (inches).