Sampling Error: Sampling error refers to the difference between a point estimate and the true population parameter it aims to estimate. It occurs due to randomness in selecting samples.
Confidence Level: Similar to confidence intervals, point estimates can also be associated with confidence levels. The confidence level indicates how confident we are that our point estimate falls within a certain range around the true value.
Bias: Bias refers to systematic errors or inaccuracies in estimating population parameters. A biased estimator consistently overestimates or underestimates the true value, while an unbiased estimator has no systematic error.