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Point Estimate Time 3D01B1

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1. **Problem:** Find the point estimate for the average time spent in the store for all customers based on a sample. 2. **Formula:** The point estimate for the population mean is the sample mean, given by: $$\bar{x} = \frac{\sum x_i}{n}$$ where $\bar{x}$ is the sample mean, $x_i$ are the sample values, and $n$ is the sample size. 3. **Given:** Sample size $n=100$, sample mean $\bar{x}=25$ minutes, standard deviation $s=5$ minutes. 4. **Solution:** Since the point estimate for the population mean is the sample mean, the estimate is: $$\bar{x} = 25$$ 5. **Interpretation:** We estimate that the average time spent in the store for all customers is 25 minutes based on the sample. This completes the solution for the first question.