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:

Standard Deviation

An index showing the degree of spread or deviation from the mean within a data collection.

Confidence Level

The probability, expressed as a percentage, that the calculated confidence interval actually includes the true population parameter.

Test Statistic

A value calculated from sample data that is used in statistical hypothesis testing to determine whether to reject the null hypothesis.

Null Hypothesis

A default hypothesis that there is no significant difference or relationship between specified populations, or variables.