## The mean monthly car payment for 121 residents of the local apartment complex is $372. What is the best point estimate for the mean monthly Question The mean monthly car payment for 121 residents of the local apartment complex is$372. What is the best point estimate for the mean monthly car payment for all residents of the local apartment complex

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2 months 2021-07-23T11:42:27+00:00 1 Answers 2 views 0

Needed point estimate is $372 Step-by-step explanation: Given: Number of houses in resident area = 121 Monthly mean car payment =$372
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.