A point estimate is ______.
A) a measure of variability
B) a single value used to estimate an unknown population parameter
C) the lower boundary of a confidence interval
D) a range or interval of values that has a stated probability of containing an unknown population parameter

Question

Quizplus · Accepted Answer

A point estimate is a single value used to estimate an unknown population parameter. Option A is incorrect because a measure of variability is not a point estimate but rather a measure of how spread out the data is. Option C is incorrect because the lower boundary of a confidence interval is not a point estimate but rather an interval estimate. Option D is incorrect because a range or interval of values with a stated probability of containing an unknown population parameter is also an interval estimate, not a point estimate.

A Point Estimate Is ______