A point estimate is a term in statistics that describes a single value (point), which is derived or estimated such as the mean (average)—of a population from random samples of the population and in turn used to estimate a population value.
Hnece, in this case the POINT ESTIMATE which is the MEAN VALUE is $45,420 which can be used to find other values of the population such as reasonable range of values for the population mean, confidence limit and margin of error.
