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the mean monthly electric bill is 132 residents of the local apartment complex is $86 what is the best point estimate for the mean monthly electric bill for all residents of the local apartment complex?

Sagot :

Considering the sample mean, the best estimate for the mean monthly electric bill for all residents of the local apartment complex is of $86.

How to find the point estimate of a population parameter?

The point estimate for the population parameter is found according to the parameter for a sample from the population. For example:

  • The best point estimate for the population mean is the sample mean.
  • The best point estimate for the population standard deviation is the sample standard deviation.

In this problem, the mean bill for 132 residents is of $86, hence the best estimate for the mean monthly electric bill for all residents of the local apartment complex is of $86.

More can be learned about point estimates at https://brainly.com/question/24651197

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