answersLogoWhite

0

To provide an estimate means to give an approximate calculation or judgment about a quantity, value, or outcome based on available information or experience. It involves making educated guesses when exact data is unavailable or unnecessary. Estimates can be used in various contexts, such as budgeting, project planning, or forecasting, and are typically expressed as a range or a single value that reflects uncertainty.

User Avatar

AnswerBot

2w ago

What else can I help you with?

Continue Learning about Statistics

Does estimate mean the same as round?

No, 'estimate' means to guess the value of something, while 'round' means either circular or is a process for truncating a value to fewer significant figures.


What is an estimated dispatch?

An estimate is an approximate calculation or judgment of the value, number, quantity, or extent of something. Depending on context, dispatch can mean the sending of someone or something to a destination or for a purpose.


What illustrate mean?

Illustrate is a verb that means to provide pictures (in a book, story, etc.), in order to make something better understood.


Is the sample mean a point estimate of the population mean?

A point estimate of a population parameter is a single value of a statistic. For example, the sample mean x is a point estimate of the population mean μ. Similarly, the sample proportion p is a point estimate of the population proportion P.


TO ESTIMATE THE AVERAGE AGE OF STUDENTS A SAMPLE OF 50 PARTICIPANTS WAS OBTAINED, WITH A MEAN OF 16 AND A POPULATIONAL VARIATION OF 9, calculate:* POINT ESTIMATE OF THE MEANS* 95% AND 99% CONFIDENCE INTERVAL ESTIMATES FOR THE MEANS?

Point Estimate of the Mean: The point estimate of the mean is 16, since this is the sample mean. 95% Confidence Interval Estimate for the Mean: The 95% confidence interval estimate for the mean can be calculated using the following formula: Mean +/- Margin of Error = (16 +/- 1.96*(9/sqrt(50))) = 16 +/- 1.51 = 14.49 to 17.51 99% Confidence Interval Estimate for the Mean: The 99% confidence interval estimate for the mean can be calculated using the following formula: Mean +/- Margin of Error = (16 +/- 2.58*(9/sqrt(50))) = 16 +/- 2.13 = 13.87 to 18.13

Related Questions

Does hypothesis and estimate mean the same?

No, an 'hypothesis' is a proposed explanation for something, while an 'estimate' is a guess at a value of something.


What does over estimate mean?

To think something is better, higher in quantity, or "over" what it actually is.


What does the root word serv mean?

to provide of give people something..


In math terms what does overestimate mean?

It means to estimate something as more than its real value.


What does relative dating provide for the age of a layer or fossil?

Relative dating provides an estimate of the age of a layer or fossil in relation to other layers or fossils. It does not provide an exact age in years, but instead helps determine whether something is older or younger than something else based on the order in which they are found.


What does it mean if you have to finance something?

It means you have to provide the money required for something. So you may require money for an investment or to pay for something, so you have to "finance" it.


What was the minners licence?

Claim, if you mean something in modern times provide more details


What is a ground fork?

Another name for a pitchfork, if you mean something else provide addit'l details.


Does estimate mean the same as round?

No, 'estimate' means to guess the value of something, while 'round' means either circular or is a process for truncating a value to fewer significant figures.


What is shod mean?

"Shod" is the past tense of the verb "shoe," meaning to provide someone or something with shoes.


What does this quote from a book mean?

Something that came out of a book. If you need definition of the quote itself, please provide.


What does additional details mean?

If something is asking for "additional details" it is asking for you to provide more information and specifics.