The single value used to estimate a population parameter is called a

The single value used to estimate a population parameter is called a

• A. Point Estimate
• B. Confidence Interval
• C. Interval Estimate
• D. Margin of Error

Answer: (A)

A single value used to estimate a population parameter is called a point estimate. It represents the best single-number summary you get from the sample for the corresponding population value—for example, the sample mean estimating the population mean, or the sample proportion estimating the population proportion. The other terms describe different ideas: a confidence interval or interval estimate is the range of values around the point estimate that’s believed to contain the true parameter with a certain level of confidence, while the margin of error is the amount added and subtracted from the point estimate to form that interval.

A single value used to estimate a population parameter is called a point estimate. It represents the best single-number summary you get from the sample for the corresponding population value—for example, the sample mean estimating the population mean, or the sample proportion estimating the population proportion.

The other terms describe different ideas: a confidence interval or interval estimate is the range of values around the point estimate that’s believed to contain the true parameter with a certain level of confidence, while the margin of error is the amount added and subtracted from the point estimate to form that interval.