BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -This is a single value computed from the sample data that is used to estimate the population parameter of interest. The sample mean (x̄) is a point estimate of the population mean ().

Detailed explanation-2: -A point estimate, also called a statistic, is a single value that describes the population of interest, with the sample mean being the most common.

Detailed explanation-3: -A point estimate of the mean of a population is determined by calculating the mean of a sample drawn from the population. The calculation of the mean is the sum of all sample values divided by the number of values.

Detailed explanation-4: -A point estimate is a single value estimate of a parameter. For instance, a sample mean is a point estimate of a population mean. An interval estimate gives you a range of values where the parameter is expected to lie. A confidence interval is the most common type of interval estimate.