Question 14 of 14, Step 1 of 1 The mean GPA for 105 residents of the local apartment complex is 1.8 . What is the best point estimate for the mean GPA for all residents of the local apartment complex?

The mean GPA for the residents in the local apartment complex, which is 1.8, serves as the best point estimate for the mean GPA of all residents. This is because it's based on the average calculated from a sufficiently representative sample size of 105 individuals, making it a reliable indicator of the overall population's GPA. It's interesting to note that in statistics, point estimates like this one provide a single best guess for a population parameter. However, it’s beneficial to accompany this estimate with a measure of precision, such as a confidence interval, to account for variability and uncertainty in the data, ensuring a more rounded understanding of the statistic.