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 ________.
A)a range estimate
B)a statistical parameter
C)a point estimate
D)an interval estimate
E)a guesstimate

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 ________.
A)a range estimate 
B)a statistical parameter 
C)a point estimate 
D)an interval estimate 
E)a guesstimate

Quizplus · Accepted Answer

If Eugene concludes that the average rate of "ease of maintenance" for all customers is 7.5, he is using a point estimate. A point estimate is a single value that is used to estimate a population parameter, such as a population mean. In this case, Eugene is using the sample data to estimate the population mean rating for "ease of maintenance."