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NOTE
1. Point Estimate of µ
µ̂ = x̄, and it is the mid-point of the 2-sided confidence interval for µ.
2. Standard Error of Sample Mean:
s.e.(X̄) = √σ
n
• Probabilistic Interpretation:
With repeated sampling, 100(1 − α) percent of all confidence intervals will
include the true population mean µ in the long run.
• Practical Interpretation:
For a single sampling, we are 100(1 − α) percent confident that the true
population mean µ falls in the confidence interval.