SGMAK Associates : Point Estimate and Interval Estimate

SGMAK Associates provides free online tutorials, courses : Point Estimate and Interval Estimate Revisit the example of estimating the average annual income of a family in the state of Michigan. Based on a sample of size 300 the average family income estimate is 50000. This statistic is defined as a point estimate of the parameter. We know that another random sample of 300 families will generate a different estimate of the statistic. How