A point estimate is an estimate that involves a single value with no associated bounds of error.

Question

Quizplus · Accepted Answer

A point estimate provides a single value as an estimate for a parameter of interest, however, it does not provide any information about the uncertainty or variability of the estimate. Therefore, point estimates are typically accompanied by some measure of the uncertainty or bounds of error, such as a confidence interval or standard error.

A Point Estimate Is an Estimate That Involves a Single