Question

A random sample of 84 shoppers were interviewed and 51 said they prefer to shop alone rather than with someone else. let p represent the proportion of all shoppers at this mall who would prefer to shop alone. find a point estimate (p hat) for p.

Answer 1

The point estimate or p hat is a single value that shows the best estimation of a certain parameter among a population.

To calculate point estimate, we divide the parameter by the whole population.

In case of this problem:
p hat = 51/84 = 0.607

To get the percent, we multiply the output by 100:
% of point estimate = 0.607 x 100 = 60.7%