Question

The process of setting up a range of values within which a parameter is included is called ____

Answer 1

The process of setting up the range of values where a parameter is included is known as Interval estimation.

• The estimation of the interval is the measurement of a population's mean or the average parameter by measuring an interval or set of values within which the parameter is most likely to be found.
• The estimation of the interval is the use of sample data to calculate an interval of the probable or possible values of an unknown population parameter as opposed to a point estimate, which is one number.