A point estimate is defined as:
A) the average of the sample values
B) the average of the population values
C) a single value that is the best estimate of an unknown population parameter
D) a single value that is the best estimate of an unknown sample statistic
E) a single value that is the best estimate of the upper range of a population parameter

Question

Quizplus · Accepted Answer

A point estimate is a single value that is the best estimate of an unknown population parameter. It is usually calculated from a sample and used to infer something about the population. It is not the average of the sample or population values, nor is it the best estimate of an unknown sample statistic or the upper range of a population parameter.

A Point Estimate Is Defined As