As an example of a situation in which several different statistics could reasonably be used to calculate a point estimate, consider a population of N invoices. Associated with each invoice is its "book value," the recorded amount of that invoice. Let T denote the total book value, a known amount. Some of these book values are erroneous. An audit will be carried out by randomly selecting n invoices and determining the audited (correct) value for each one. Suppose that the sample gives the following results (in dollars). Let Book value Audited value Error Invoice 1 2 3 4 5 279 696 515 221 114 279 531 515 221 175 0 165 0 0 -61 Y = sample mean book value X = sample mean audited value D sample mean error

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