Question

The results of a poll show that between 75% and 83% of consumers prefer Chip A to Chip B. What is the point estimate for the percent of consumers that prefer Chip A to Chip B?

79%
8%
75%
83%

Answer 1

Answer:79%

Explanation:

Answer 2

79%

Explanation:

First of all, the point estimate is a value located in between the upper confidence limit and the lower confidence limit, it identifies a point in some parameter space.

This question provides us with an interval estimate which is a range of values used to estimate a population parameter.

Interval Estimate = 75% to 83%

75% = Lower confidence limit

83% = Upper confidence limit

Point estimate = middle value

=
`(75+83)/(2) = (158)/(2)`

= 79%