Step 1 :Determine whether the statement is true or false. If it is false, rewrite it as a true statement.
Step 2 :The point estimate for the population proportion of failures is $1-\hat{p}$.
Step 3 :Choose the correct answer below.
Step 4 :A. The statement is false. The actual point estimate for the population proportion of failures is $\sqrt{\hat{p}}$.
Step 5 :B. The statement is true.
Step 6 :C. The statement is false. The actual point estimate for the population proportion of failures is $1-\sqrt{\hat{p}}$.
Step 7 :D. The statement is false. The actual point estimate for the population proportion of failures is $\hat{p}$.
Step 8 :Final Answer: \(\boxed{\text{B. The statement is true.}}\)