The Problem with Relying on a Point Estimate of a Population

question 90

Short Answer

The problem with relying on a point estimate of a population parameter is that: $\begin{array}{|l|l|}\hline A&\text {it has no variance. }\\\hline B&\text { it might be unbiased.}\\\hline C&\text { it might not be relatively efficient.}\\\hline D&\text {it does not tell us how close or far the point estimate might be from the parameter. }\\\hline \end{array}$

---

Definitions:

Executory Contracts

Agreements between parties that have yet to be fully performed or executed by one or more of the parties involved.

Conditional

Dependent on certain conditions or requirements being met before full effect or enforcement.

Partial Performance

An exception to the statute of frauds in which the performance of portions of an unwritten agreement by one or both parties can constitute proof that an oral contract exists between the parties.

Significant Performance

A legal concept in contract law indicating that a party has fulfilled enough of its contractual obligations to warrant payment.