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a point estimate for p is 75.6 %
To calculate point estimate
point estimate = = 75.6%
- In statistics, point estimating uses sample data to determine a single value that will serve as the "best guess" or "best estimate" of an unidentified population parameter.
- It is called a point estimate because it identifies a point in some parameter space (for example, the population mean). More precisely, it is the process of applying a point estimator to the data in order to produce a point estimate.
- Point estimation can be compared with interval estimation, where the interval estimates are typically either credible intervals or confidence intervals depending on whether frequentist or Bayesian inference is being used. A point estimator can be compared to a set estimator more generically.
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Question:
A random sample of 78 students were interviewed and 59 said they would vote fore a democrat in the 2008 election. 1. Let p represent the proportion of all students at this college who will vote for a democrat. Find a point estimate p for p.