A point estimate is a single value derived from sample data used to approximate an unknown population parameter. It serves as a best guess or most likely value, often represented by a point estimate sign, such as a dot or a specific numerical value. This term is crucial in statistical analysis and financial reporting, providing a concise measure for decision-making and forecasting.
Get Your FREE Exam Secrets Cheat Sheet!
Plus a 3-Part CMA Video Course
82,000+ accounting and finance pros got their free CMA cheat sheet.
Get yours too, today!