Let’s review the terminology and notation related to sampling we studied in Subsection 7.3.1. In Chapter 7 our study population was the bowl of \(N\) = 2400 balls. Our population parameter of interest was the population proportion of these balls that were red, denoted mathematically by \(p\). In order to estimate \(p\), we extracted a sample of 50 balls using the shovel and computed the relevant point estimate: the sample proportion that were red, denoted mathematically by \(\widehat{p}\).