17:45 5 4 12.0 KB/S Ce Ill (31 Let Us Discover 1. Length of Confidence Interval Parameter Estimation is a branch of statistics that involves using sample data to estimate the parameters of a distribution. There are two types of estimates for each population parameter: A point estimate is a specific numerical value estimate of a parameter. The best point estimate of the population mean u is the sample mean x. An interval estimate of a parameter is an interval or a range of values used to estimate the parameter. This estimate may or may not contain the value of the parameter being estimated. A margin of error tells you how many percentage points your results will differ from the real population value. Summary of z-scores for Commonly Used Confidence Levels Illustrations Confidence Margin Margin Margin of Error of Error of Error Margin of Level Error (a) (1 - @) 1% or 0. 01 99% or 0. 99 Z= -2.326 Z =2.326 Z = + 2.576 5% or 0. 05 95% or 0. 95 Z=-1.645 Z = 1.645 Z =+1.960 10% or 0. 10 90% or 0. 90 Z =-1.282 Z= 1.282 Z = + 1.645 GSC-CID-LRMS-ESSLM, v.r. 03.00, Effective June 14, 2021 The length of the confidence interval is simply the difference between the two endpoints. Use t-distribution, Use z-distribution, if o is unknown and n