A point estimate of the percentage of defectives in all manufactured bulbs is the Sample proportion.
How to find a point estimate of a proportion?
p'= x / n where x is the number of successes and n is the sample size. The variable p is the sample ratio and serves as a point estimate of the true ratio of the population.
Point estimation for population parameters is a single value for statistics. For example, the sample mean x is a point estimate of the population mean μ. Similarly, the sample ratio p is a point estimate of the population ratio P.
The average point estimate for the population is obtained by calculating the average of the samples taken from the population. The average calculation is the sum of all samples divided by the number of values.
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