Which of the following statements applies to a point estimate?
A)The point estimate is a parameter.
B)The point estimate will tend to be accurate if the sample size exceeds 30 for non-normal populations.
C)The point estimate is subject to sampling error and will almost always be different than the population value.
D)The point estimate is needed to determine the required sample size when estimating the population mean.

Question

Quizplus · Accepted Answer

A point estimate is a single value that is used to estimate a population parameter. It is subject to sampling error, which means that it is almost always different than the population parameter. While increasing the sample size can improve the accuracy of the point estimate, there is no set number of samples required for accuracy as it depends on the population distribution.

Which of the Following Statements Applies to a Point Estimate