What is the best point estimate of the population mean?
Understand the Problem
The question is asking for the best method or measure to estimate the mean of a population based on sample data. Generally, the point estimate of the population mean is the sample mean calculated from data collected from a specific sample.
Answer
The sample mean
The best point estimate of the population mean is the sample mean.
Answer for screen readers
The best point estimate of the population mean is the sample mean.
More Information
The sample mean is used because it provides an unbiased estimator of the population mean, meaning that on average, it equals the population mean.
Tips
A common mistake is confusing the sample mean with other measures like the median or mode, which do not provide unbiased estimators of the population mean.
Sources
- How to solve the best point estimate for the population mean and ... - socratic.org
- What is the point estimate for the population mean? - homework.study.com
- Solved What is the best point estimate for population mean - Chegg - chegg.com
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