To find the point estimate of the population mean based on the given confidence interval, we can take the average of the lower and upper bounds of the interval.
Here, the lower bound is 17 and the upper bound is 25. We calculate the point estimate as follows:
Point Estimate (Mean) = (Lower Bound + Upper Bound) / 2
Substituting the values:
Point Estimate = (17 + 25) / 2 = 42 / 2 = 21
This means that the point estimate of the population mean is 21.
Next, to determine the margin of error, we find the difference between the upper bound and the mean, or between the mean and the lower bound. This is calculated as:
Margin of Error = Upper Bound – Point Estimate
Margin of Error = 25 – 21 = 4
Thus, the margin of error is 4.
In summary, based on a confidence interval with lower bound 17 and upper bound 25, the point estimate of the population mean is 21 and the margin of error is 4.