q8- Which of the following statements are correct? (i) It is impractical and costly to investigate every member of population. It is much easier and cheaper to investigate a sample from the population of interest and make conclusions about the population parameters based on sample data. (ii) Statistical inference is the process of making a forecast or decision about a sample statistic, based on the population data. (iii) Population is the set of all items of interest. A descriptive measure of a population is called a population parameter. Select one: a. (i) and (iii) b. (i) and (ii) c. (ii) and (iii) d. (i), (ii), and (iii)

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.