A point estimate of a population parameter will likely be different from the corresponding population value due to the fact that point estimates are subject to sampling error.

Point Estimate

A single value given as an estimate of a population parameter, derived from sample data.

Population Parameter

A characteristic or measure that describes an aspect of an entire population, such as its mean or standard deviation.

Sampling Error

The difference between the sample statistic and the actual population parameter, which occurs by chance because the sample is not a perfect representation of the population.