Explain Briefly Why Interval Estimators Are Preferred to Point Estimators

question 29

Essay

Explain briefly why interval estimators are preferred to point estimators.

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Definitions:

Copyright

A legal right granted to the creator of original works of authorship, such as literary, dramatic, musical, artistic works, and certain other intellectual property, to publish, use, and sell their creation for a specified period of time.

Patent

A government grant giving an inventor exclusive rights to make, use, or sell an invention for a specified period in exchange for public disclosure of the invention.

Trademark

A legal designation of exclusive use of a brand or product name.

Goodwill

An intangible asset that represents the portion of the business value that cannot be attributed to other business assets.