Recently, a university surveyed recent graduates of the English Department for their starting salaries. Four hundred graduates returned the survey. The average salary was $25,000 with a standard deviation of $2,500. What is the best point estimate of the population mean?
A) $25,000
B) $2,500
C) $400
D) $62.5

Question

Quizplus · Accepted Answer

The best point estimate of the population mean would be the sample mean, which is $25,000. This is because the sample mean is an unbiased estimator of the population mean and is the most precise estimate of the population mean.

Recently, a University Surveyed Recent Graduates of the English Department