For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding. In a marketing survey, a random sample of 730 women shoppers revealed that 638 remained loyal to their favorite supermarket during the past year (i.e., did not switch stores). (a) Let p represent the proportion of all women shoppers who remain loyal to their favorite supermarket. Find a point estimate for p. (Round your answer to four decimal places.)
What is point estimation?