The sample statistic \( s \) is the point estimator of

The sample statistic \( s \) is the point estimator of the population standard deviation \( \sigma \). It provides a measure of the spread or dispersion of a set of sample data, showing how much individual data points differ from the sample mean. As you gather more data, this estimator becomes more accurate, allowing you to draw better conclusions about the underlying population. In practice, using \( s \) is crucial for applications like quality control, research studies, and even sports statistics. For example, when a manufacturer assesses the variability in their products, they rely on \( s \) to ensure consistent quality. Understanding how to calculate and interpret \( s \) helps in making informed decisions based on data!