The sample mean is a point estimate of the population mean for the variable of interest.

Here's a step-by-step explanation:

1. A point estimate is a single value estimate of a parameter. In this case, the parameter we're interested in is the population mean.

2. The sample mean is calculated by adding up all the values in the sample and dividing by the number of values in the sample.

3. The sample mean is used as an estimate of the population mean because, in many cases, we don't have access to the entire population.

4. Therefore, the sample mean is a point estimate of the population mean for the variable of interest.

Question

The sample mean is a point estimate of the population mean for the variable of interest.

Here's a step-by-step explanation:

1. A point estimate is a single value estimate of a parameter. In this case, the parameter we're interested in is the population mean.

2. The sample mean is calculated by adding up all the values in the sample and dividing by the number of values in the sample.

3. The sample mean is used as an estimate of the population mean because, in many cases, we don't have access to the entire population.

4. Therefore, the sample mean is a point estimate of the population mean for the variable of interest.

Knowee AI · Accepted Answer

The sample mean is a point estimate of the population mean for the variable of interest.

Here's a step-by-step explanation:

1. A point estimate is a single value estimate of a parameter. In this case, the parameter we're interested in is the population mean.

2. The sample mean is calculated by adding up all the values in the sample and dividing by the number of values in the sample.

3. The sample mean is used as an estimate of the population mean because, in many cases, we don't have access to the entire population.

4. Therefore, the sample mean is a point estimate of the population mean for the variable of interest.

The __________ is a point estimate of the population mean for the variable of interest.