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How to calculate a point estimate in Excel?

To calculate a point estimate in Excel, you typically use functions that directly provide a single, best-guess value for a population parameter based on sample data. Common methods include calculating the sample mean, median, or mode. For the sample mean, use the `AVERAGE()` function, inputting the range of cells containing your sample data (e.g., `=AVERAGE(A1:A10)`). For the median, use the `MEDIAN()` function similarly (e.g., `=MEDIAN(A1:A10)`). To find the mode, use the `MODE.SNGL()` function (e.g., `=MODE.SNGL(A1:A10)`), which returns the most frequently occurring value. If you have multiple modes, this function will only return the first one encountered. The choice of which point estimate to use depends on the nature of your data and the characteristic you're trying to estimate.

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