In this module we learn about the theory of “interval estimation”. We will learn the definition and correct interpretation of a confidence interval and how to construct one for the mean of an unseen ...

Econometrics uses economic theory, mathematics, and statistical inference to quantify economic phenomena ... they often run into—and alert their theoretical counterparts to—data attributes that lead ...

You can use estimation to get a rough idea of a calculation. Round the numbers to make it easier. Then do the calculation. If it's really different to the estimation, a mistake has been made.