The problem with relying on a point estimate of a population parameter is that:
A)it is virtually certain to be wrong.
B)it doesn't have the capacity to reflect the effects of larger sample sizes.
C)it doesn't tell us how close or far the point estimate might be from the parameter.
D)All of these choices are true.

Question

Quizplus · Accepted Answer

All of these statements are true. Point estimates are single numbers calculated from a sample that are used to estimate the population parameter. However, they are almost always incorrect because they are based on a single sample and cannot capture the variability that exists across multiple samples. Additionally, larger sample sizes tend to lead to more accurate estimates, but a point estimate alone cannot convey the degree of precision or uncertainty associated with the estimate.

The Problem with Relying on a Point Estimate of a Population