Activity 8.2: ESTIMATING THE MEAN Answer the following 1. What is the difference between a point estimate and an interval estimate of a parameter? Which is better? Why? 2. What information is necessary to calculate a confidence interval? 3. What is the margin of error? 4. What is meant by the 95% confidence interval of the mean? 5. The numbers of faculty at 32 randomly selected state-controlled colleges and universities with enrollment under 12,000 students are shown below. Use these data to estimate the mean number of faculty at all state-controlled colleges and universities with enrollment under 12,000 with 92% confidence. Assume o = 165.1. 211, 384, 396, 211, 224, 337, 395, 121, 356, 621, 367, 408, 515, 280, 289, 180, 431, 176, 318, 836, 203, 374, 224, 121, 412, 134, 539, 471, 638, 425, 159, 324

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