Question

The mean gpa for 118118 residents of the local apartment complex is 1.71.7. what is the best point estimate for the mean gpa for all residents of the local apartment complex?

Answer 1

The point estimate of the population mean GPA of all residents of the local apartment complex is 1.70.

Explanation:

In statistic, point-estimation comprises of the use of sample data to estimate a distinct data-value (known as a point-estimate) which is to function as a "best guess" or "best estimate" of an unidentified population-parameter.

The point estimate of the population-mean (µ) is the sample mean (
`\bar x`).

The law of large numbers, in probability concept, states that as we increase the sample size, the mean of the sample (
`\bar x`) approaches the whole population mean (
`\mu`).

That is, at n → ∞,
`\bar x` →
`\mu`.

It is provided that the sample mean GPA of n = 118 residents of the local apartment complex is
`\bar x` = 1.70.

As the sample size is quite large, according to the law of large numbers, the sample mean will approach the population mean, i.e. the population mean GPA can be estimated using the sample mean.

Thus, the point estimate of the population mean GPA of all residents of the local apartment complex is 1.70.