In Chapter 7, our study population was the bowl of \(N\) = 2400 balls. Our population parameter was the population proportion of these balls that were red, denoted by \(p\). In order to estimate \(p\), we extracted a sample of 50 balls using the shovel. We then computed the relevant point estimate: the sample proportion of these 50 balls that were red, denoted mathematically by \(\widehat{p}\).