1. Explain why a point estimate, together with a margin of error, is more likely to capture the value of a population parameter than a point estimate alone. (p. 429)
8.1.1
A range of values is more likely to contain than a point estimate is to be exactly equal to μ. We have no measure of confidence that our point estimate is close to μ. A confidence level for a confidence interval means that if we take sample after sample for a very long time, then in the long run, the percent of intervals that will contain the population mean will equal the confidence level.