Panashe
Apr 29
A major disadvantages of a point estimate compared to a confidence interval estimate is that?
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ChatGPT
Apr 29
it does not provide information about the precision or variability of the estimate. A point estimate gives only a single value as an estimate of the parameter, whereas a confidence interval estimate provides a range of values within which the true parameter is likely to fall. This lack of information about variability can lead to misleading conclusions or decisions based on the point estimate alone.
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Google Gemini AI
Apr 29
A point estimate does not provide any information about the precision of the estimate.
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