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Answer :
Final answer:
The point estimate for the population variance of the weight of the bags of dog food is calculated by squaring the sample standard deviation. In this case, the variance is 0.25lb².
Explanation:
To calculate the point estimate for population variance, we rely on the given sample standard deviation. The squared standard deviation is the variance. In this particular instance, the sample standard deviation is 0.5lb. So therefore, we calculate the variance by squaring the sample standard deviation: 0.5lb * 0.5lb = 0.25lb². This serves as our point estimate for the population variance of the weight of the bags of dog food.
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