A Point Estimate Is Used ________

question 51

Multiple Choice

A point estimate is used ________.

• A)because it's easier to use all the values in the data set than a single value
• B)to estimate the value of a population estimate
• C)when the population parameter is known
• D)only when the population proportion is not known

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Definitions:

Contradictory Cognitions

Holding two or more psychological beliefs, ideas, or values that are in conflict with one another.

Social Norms

The unwritten rules that govern the behavior of individuals within a society, guiding what is considered acceptable or unacceptable.

Conform

The act of adjusting one’s behavior or thinking to match those of others or to meet societal standards.

Yield

The income return on an investment, such as the interest or dividends received, expressed as an annual percentage rate based on the investment's cost, its current market value, or its face value.