The speed of 10 ferris wheels is sampled. the speed, measured in miles per hour, are 10, 10, 12, 14, 10, 9, 8, 14, 12, 15 what is the best estimate of the population mean for the speed of a ferris wheel?

Here, we calculate the mean of the given sample to get the sample mean. We can then say that the sample mean calculated is a point estimate for the population mean

However some error can take place since we are using only a subset of the population to calculate the point estimate for the population mean. This error is called as sampling error. This would be the best estimate for the population mean

Sample mean speed of the Ferris wheel is = average of all the 10 individual values = (10+10+12+14+10+9+8+14+12+15)/10 = 11.4 miles per hour

Best estimate for population mean = 11.4 miles per hour