In Point Estimation

question 63

Multiple Choice

In point estimation

• A) data from the population is used to estimate the population parameter.
• B) data from the sample is used to estimate the population parameter.
• C) data from the sample is used to estimate the sample statistic.
• D) the mean of the population equals the mean of the sample.

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Definitions:

Gini Index

A measure of the distribution of income across a population used to gauge economic inequality.

Household

A person or group of people living in the same residence and sharing living accommodations.

National Income

is the total value of all goods and services produced by a country over a specific period, usually a year, reflecting the economic performance of the nation.

Global Inequality

The unequal distribution of resources, wealth, opportunities, and rights among countries or populations across the world.