The Problem with Relying on a Point Estimate of a Population

question 91

Multiple Choice

The problem with relying on a point estimate of a population parameter is that:

• A)it is virtually certain to be wrong.
• B)it doesn't have the capacity to reflect the effects of larger sample sizes.
• C)it doesn't tell us how close or far the point estimate might be from the parameter.
• D)All of these choices are true.

---

Definitions:

Mutual Assent

Mutual assent is the agreement between parties to enter into a contract, demonstrated by offer and acceptance.

Counteroffer

A proposal made in response to an initial offer, containing different terms that must be accepted for a contract to be legally binding.

Merchant

An individual or business entity engaged in the buying and selling of goods for profit, typically possessing specialized knowledge in the goods traded.

Article 2

A specific section of the Uniform Commercial Code (UCC) that governs the sale of goods in the United States.