Question

Suppose you were told that a 98% confidence interval for the population mean of mpg of a hybrid car was (22, 38). Determine the point estimate for this population mean.

Answer 1

The point estimate for the mean mpg of hybrid cars is 30 mpg.

Explanation:

A confidence interval has two bounds, a lower bound and an upper bound.

A confidence interval is symmetric, which means that the point estimate used is the mid point between these two bounds, that is, the mean of the two bounds.

In this problem, we have that:

Lower bound: 22

Upper bound: 38

Point Estimate:

(22 + 38)/2 = 30

The point estimate for the mean mpg of hybrid cars is 30 mpg.