A point estimate is a single number derived from sample data that is used to estimate the value of a population parameter.Group of answer choicesTrueFalse

Answer

True. A point estimate is indeed a single number calculated from sample data that is used to estimate a specific population parameter. This estimate can take various forms, depending on the population parameter being estimated—such as the sample mean used to estimate the population mean, or the sample proportion used to estimate the population proportion. Point estimates are useful in statistics because they provide a concise and straightforward summary of the observed data, enabling statisticians to make inferences about the larger population. However, it’s important to note that while point estimates are informative, they do not provide information about the variability or uncertainty associated with that estimate.