Final answer:
A point estimate is a single value used to estimate an unknown parameter of a population. In this case, the point estimate is the difference between the mean annual premium in PA and the national mean.
Step-by-step explanation:
A point estimate is a single value that is used to estimate an unknown parameter of a population. In this case, the point estimate is the difference between the mean annual premium in Pennsylvania and the national mean in dollars.
To calculate the point estimate, subtract the national mean from the mean annual premium in Pennsylvania. For example, if the mean annual premium in Pennsylvania is $85,000 and the national mean is $84,922, the point estimate would be $85,000 - $84,922 = $78.
Therefore, the point estimate in dollars of the difference between the mean annual premium in Pennsylvania and the national mean is $78.