Question

The mean monthly water bill for 44 residents of the local apartment complex is $104. What is the best point estimate for the mean monthly water bill for all residents of the local apartment complex?

Answer 1

The best point estimate for the mean monthly water bill for all residents of the local apartment complex is $104.

Step-by-step explanation:

The best point estimate for the mean monthly water bill for all residents of the local apartment complex can be calculated by using the sample mean as an estimate of the population mean. In this case, the sample mean is $104, so it can be considered as the best point estimate for the population mean. This means that on average, the monthly water bill for all residents of the local apartment complex is estimated to be $104.

Answer 2

$104

Step-by-step explanation:

The computation of the best point estimate for the mean monthly water bill is shown below:

Given that

The mean monthly water bill is $104

and, the number of residents is 44

based on the above information

The best point estimate would be equivalent to the mean monthly water bill i.e. $104

hence, the same would be considered