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Estimates, like the sample mean or sample standard deviation, can change with each new sample. Understanding this fluctuation is central to developing a foundation for understanding the quality of parameter estimates. This video accompanies the discussion of *Variability in Estimates* in OpenIntro Statistics. Here, we will learn about point estimates, and see that point estimates are not exact. We will also have our first opportunity to quantify variability in estimates by studying the standard error of the mean. Finally, we will conclude with a summary of a few basic properties of point estimates. Suppose we want to estimate the population mean based on a sample. The most intuitive way to go about doing this is to simply take the sample mean. The sample mean is called a point estimate of the population mean: if we can only choose one value to estimate the population mean, this is our best guess. If we take a new sample and recompute the mean, we will probably not get the exact same an