The _______ is the best point estimate of the population mean.
Sunday, April 23, 2023
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Question: The _______ is the best point estimate of the population mean.
The best point estimate of the population mean is the sample mean. The sample mean is calculated by summing up all the values in a sample and dividing by the sample size. It provides an estimate of the central tendency of the sample and can be used as a point estimate of the population mean, assuming that the sample is representative of the population. The sample mean is considered the best point estimate because it is an unbiased estimator, meaning that on average, it will equal the population mean, and it has the minimum variance among all unbiased estimators.
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