A simple random sample of 5 observations from a population containing 400 elements was taken, and the following values were obtained. A point estimate of the mean is
A)400
B)18
C)20
D)10

Question

A simple random sample of 5 observations from a population containing 400 elements was taken, and the following values were obtained.  A point estimate of the mean is
A)400 
B)18 
C)20 
D)10

Quizplus · Accepted Answer

The point estimate of the mean can be calculated by taking the average of the sample values. 
(8 + 12 + 16 + 20 + 24)/5 = 16 
Therefore, the best choice for the point estimate of the mean is 16, which is option B. Option A (400) is the size of the population and not a point estimate of the mean. Option C (20) and D (10) are not the correct values based on the given sample.

A Simple Random Sample of 5 Observations from a Population