You are estimating the mean waiting time in line at a particular fast-food restaurant.You ask 30 customers,at varying times of the day,how long they waited in line before placing their order.You then take the average of these values and use this average to estimate the mean waiting time for all customers.The average of the 30 values is an example of a(n):
A)Chebyshev estimate
B)point estimate
C)interval estimate
D)confidence estimate

Question

Quizplus · Accepted Answer

A point estimate is a single value given as an estimate of a population parameter, such as the mean waiting time in this case.

You Are Estimating the Mean Waiting Time in Line at a Particular