The __________ is a point estimate of the population mean for the variable of interest.
Question
The __________ is a point estimate of the population mean for the variable of interest.
Solution
The sample mean is a point estimate of the population mean for the variable of interest.
Here's a step-by-step explanation:
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A point estimate is a single value estimate of a parameter. In this case, the parameter we're interested in is the population mean.
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The sample mean is calculated by adding up all the values in the sample and dividing by the number of values in the sample.
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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.
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Therefore, the sample mean is a point estimate of the population mean for the variable of interest.
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