CFA Level 1: Point Estimate for Rainbow Trout Weight

Point Estimate for Rainbow Trout Weight

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Question

The wildlife department has been feeding a special food to rainbow trout fingerlings in a pond. A sample of the weights of 40 trout revealed that the mean weight is

402.7 grams and the standard deviation 8.8 grams. What is the point estimate?

Answers

Explanations

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A. B. C. D. E.

E

The sample mean is a good estimate for the population mean.

The point estimate is a single value that is used to estimate an unknown population parameter based on a sample. In this case, we are trying to estimate the population mean weight of rainbow trout fingerlings in the pond based on a sample of 40 trout.

The given information tells us that the sample mean weight is 402.7 grams and the sample standard deviation is 8.8 grams.

Since we are estimating the population mean, the point estimate would be the sample mean. Therefore, the point estimate is 402.7 grams, which is option E.