Which of the Following Is a Point Estimate for the Population

question 4

Multiple Choice

Which of the following is a point estimate for the population mean (µ) ?

• A)σ
• B)x/n

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Definitions:

Variance

An indicator of the variability or extent to which a collection of data values is spread out from their average.

API Gravity

A measure of how heavy or light a petroleum liquid is compared to water, used to classify oils.

Confidence Interval

An estimated range of values which is likely to include an unknown population parameter, calculated from a given set of sample data.

Price Per Barrel

The cost of a single barrel of goods, often used to refer to crude oil in the commodities market.