= Solution
Keep the true parameter fixed and imagine repeatedly collecting four <independent and identically distributed> observations under the same model. Compute the <maximum-likelihood estimate>, its estimated <standard error>, and the <Wald confidence interval> afresh each time. The intended coverage statement is that approximately 95% of those random <confidence intervals> contain the fixed true parameter, provided the <normal approximation> is adequate.
After these particular observations have been collected, both endpoints are fixed. The frequentist statement does not assign 95% <probability> to the fixed parameter lying between these particular endpoints. Nor does the <confidence interval> describe the range containing 95% of future observations. The small sample makes the nominal 95% coverage an approximation whose accuracy is not guaranteed.
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