Estimation of population parameters is an important aspect of Inferential Statistics. Estimates of parameters like mean and proportion which are derived from data collected from samples are often used in statements describing the true parameters of population.
The parameter estimates are of two types, Point and interval estimates. The reliability of a Point estimate as a good estimate is often difficult to find and hence its accuracy is generally questionable, Hence the interval estimates are generally preferred by statisticians over Point estimates.An interval estimate is a range of values to estimate the parameter in question, The interval may or may not contain the parameter. Confidence Interval is an Interval estimate for the parameter which also gives the probability of the true parameter falling in that interval.
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