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## 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

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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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Mathematics
2 months
2021-07-23T11:42:27+00:00
2021-07-23T11:42:27+00:00 1 Answers
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## Answers ( )

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.