Question

1. What is a point estimate and why can't we use it to as a measure for the population measure?

2. How can we use inferential statistics to estimate a population means using a sample mean?

5. What are the two requirements that must be confirmed before doing hypothesis testing

Answer 1

1. Point estimate is the single value which is given as the estimate of the population measure. We can not use it as the populatipn measure because it changes as the sample changes.

2. We can draw different samples from population and for each sample we will compute the sample mean. Then average of these sample means is computed and hence we get the estimate of the population mean.

5. For hypothesis testing, we must check the following requirements 1) assumptions of the test i.e. normality, independence, parameters, sample size etc. 2) level of the significance.