Answer:
Needed point estimate is $372
Step-by-step explanation:
Given:
Number of houses in resident area = 121
Monthly mean car payment = $372
Find:
Best point estimate for the mean monthly car payment
Explanation:
The "best point estimate" for such average monthly automobile payment for all inhabitants of the nearby apartment complex is used as the "sample mean." In this example, a $372 sample was obtained on 121 residents.
As a result, the needed point estimate is $372.
