Eugene Gates, Marketing Director of Mansfield Motors Manufacturers, Inc.'s Electrical Division, is leading a study to assess the relative importance of product features. An item on a survey questionnaire distributed to 100 of Mansfield's customers asked them to rate the importance of "ease of maintenance" on a scale of 1 to 10 (with 1 meaning "not important" and 10 meaning "highly important"). His staff assembled the following statistics: If Eugene concludes that the average rate of "ease of maintenance" for all customers is 7.5, he is using ___.

Question

Eugene Gates, Marketing Director of Mansfield Motors Manufacturers, Inc.'s Electrical Division, is leading a study to assess the relative importance of product features. An item on a survey questionnaire distributed to 100 of Mansfield's customers asked them to rate the importance of "ease of maintenance" on a scale of 1 to 10 (with 1 meaning "not important" and 10 meaning "highly important"). His staff assembled the following statistics:  If Eugene concludes that the average rate of "ease of maintenance" for all customers is 7.5, he is using ___.

Quizplus · Accepted Answer

Eugene is using a point estimate, which is a single value that is used to estimate an unknown population parameter (in this case, the average importance of "ease of maintenance" for all customers).