FORESTRY
AGRICULTURAL STATISTICS AND ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is the definition of a “point estimate?”
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The average of a population.
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The average of a sample.
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The midpoint of a confidence interval.
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The confidence interval.
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Explanation:
Detailed explanation-1: -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.
Detailed explanation-2: -point estimation, in statistics, the process of finding an approximate value of some parameter-such as the mean (average)-of a population from random samples of the population.
Detailed explanation-3: -Answer and Explanation: TRUE. The point estimate of a population parameter is always at the center of the confidence interval for the parameter.
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