# PLZ Help! I am confused. The mean monthly car payment for 123 residents of the local apartment complex is $624. ?

The mean monthly car payment for 123 residents of the local apartment complex is

$624. What is the best point estimate for the mean monthly car payment for all residents of the local apartment complex?

### 1 Answer

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- SpacemanLv 73 weeks ago
A point estimate of a population parameter is a single value used to estimate

the population parameter. For example, the sample mean x is a point estimate

of the population mean μ.

Sample mean for 123 residents: $624

Point estimate of population mean for ALL residents: $624

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