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

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Definitions:

Mary Parker Follett

An early 20th-century social worker and management consultant who emphasized the importance of negotiation, power-sharing, and constructive conflict resolution in organizational settings.

Hawthorne Studies

A series of studies conducted in the early 20th century that explored how different work conditions affect employee productivity and behavior.

Theory X

A management theory proposing that individuals are inherently lazy and will avoid work if they can, necessitating control and coercion by management.

Chester I. Barnard

An American business executive and author, recognized for his contributions to management theory, particularly in the field of organizational studies and corporate management.