Final answer:
The best point estimate for the population's standard deviation is approximately 1.2247 when given a sample variance of 1.5. This is found by taking the square root of the sample variance.
Step-by-step explanation:
The best point estimate for the population's standard deviation when the sample variance is 1.5 is the square root of the sample variance. This is calculated as:
Population Standard Deviation (σ) = √Sample Variance
Therefore:
σ = √1.5 ≈ 1.2247
Thus, the best point estimate for the population's standard deviation is approximately 1.2247 when the sample variance is 1.5.