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Mean
The mean is the mathematical average of a set of numbers or measurements, obtained by adding them together and dividing by the number of observations.
Estimator
A guideline or equation that approximates a characteristic of an entire population by analyzing data from a subset of it.
Point Estimate
A single value or statistic that serves as the best guess or estimate of a population parameter based on sample data.
Interval Estimate
An estimate of a population parameter that specifies a range of possible values within which the parameter is expected to lie, usually expressed with a degree of confidence.
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