MHB Margin of error and point estimate together

[aprilryan]

Hey all I have one last question for you. I just need clarification on point estimate and margin of error as I have to find both in a problem. Let's say the endpoints are 5.9 and 8.1. When I do a margin of error problem, I subtract the mean of 7 from 8.1 right? When I do point estimate do I add or subtract 8.1 from 5.9 or the margin of error?

Thanks! Hope you all have a great summer!

 

[I like Serena]

Hey all I have one last question for you. I just need clarification on point estimate and margin of error as I have to find both in a problem. Let's say the endpoints are 5.9 and 8.1. When I do a margin of error problem, I subtract the mean of 7 from 8.1 right? When I do point estimate do I add or subtract 8.1 from 5.9 or the margin of error?

Thanks! Hope you all have a great summer!

Hi aprilryan!

With a confidence interval of [5.9, 8.1], the point estimate is the mean, which is 7.0.
The margin of error is how much the confidence interval can deviate from 7, which is 1.1.
We can also write the confidence interval as $7.0 \pm 1.1$.

Cheers! ;)