10. Confidence Intervals

Inferential statistics deals with making inferences about a population parameter using information contained in the sample. Estimation and Hypothesis testing are two types of inferential statistics. There are two types of estimation: point and interval estimation.

1. The sample mean $\bar x$ is a point estimate of the population mean $\mu$
2. The sample proportion $\hat{p}$ is a point estimate of the population proportion $p$.

An interval estimate or confidence interval provides two values, where all real numbers between these values are considered as an estimate to the population parameter.