In hypothesis tests, the purpose was to make a decision about a parameter, in terms of it being greater than, less than, or not equal to a value. But what if you want to actually know what the paramet...In hypothesis tests, the purpose was to make a decision about a parameter, in terms of it being greater than, less than, or not equal to a value. But what if you want to actually know what the parameter is. You need to do estimation. There are two types of estimation – point estimator and confidence interval.
