Asked by Siddharth Sinha on Jun 19, 2024
Verified
The absolute value of the difference between the point estimate and the population parameter it estimates is the _____ error.
A) standard
B) sampling
C) efficient
D) finite
Point Estimate
A single value estimate or guess of a population parameter based on sample data.
Sampling Error
The difference between the population parameter and the sample statistic due to chance variation in selecting a sample.
- Identify the influence of sample size on the accuracy of statistical estimates.
Verified Answer
SS
Shane SearsJun 26, 2024
Final Answer :
B
Explanation :
The absolute value of the difference between the point estimate and the population parameter is a measure of how much error is present in our estimation process, and this is known as the sampling error. Therefore, the correct answer is B, sampling error. The other options (standard, efficient, finite) do not accurately describe this type of error.
Learning Objectives
- Identify the influence of sample size on the accuracy of statistical estimates.