When a Statistic Calculated from Sample Data Is Used to Estimate

question 73

True/False

When a statistic calculated from sample data is used to estimate a population parameter, it is called a point estimate.

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Definitions:

Nontariff Barrier

Measures other than tariffs that countries use to control the amount of trade across their borders, including quotas, embargoes, sanctions, and other restrictions.

Import

The act of bringing goods or services into a country from abroad for sale.

Export Restraints

Government-imposed limitations on the quantity or value of goods that can be exported from a country.

Trade Barriers

Measures imposed by governments to regulate or restrict international trade, including tariffs, quotas, embargoes, and standards.