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Thread: Introduction to Estimation(need help with terms)

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    Introduction to Estimation(need help with terms)




    Which of the following definitions is incorrect?

    Estimation

    It is a process by which sample data is used to estimate or approximate the value of an unknown population parameter.

    The estimate can be expressed as a single value, known as a point estimate, or a range of values, known as an interval estimate.

    Point Estimation

    It is a process by which sample data is used to estimate or approximate the value of an unknown population parameter using a single value or a point.

    Interval Estimation

    It is a process by which sample data is used to estimate or approximate the value of an unknown population parameter using an interval.

    Estimator

    It is a rule, often expressed as a formula, that tell us how to calculate the value of an estimate based on sampled data.

    e.g X bar

    Point Estimator

    Suppose we use an estimator to do point estimation, the estimator is said to be a point estimator of the population parameter.

    e.g Suppose we use X bar to do point estimation, X bar is said to be a point estimator of the population parameter(mu).

    Interval Estimator

    Suppose we use an estimator to do interval estimation, the estimator is said to be an interval estimator of the population parameter.

    e.g Suppose we use X bar to do interval estimation, X bar is said to be an interval estimator of the population parameter(mu).

  2. #2
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    Re: Introduction to Estimation(need help with terms)

    What sort of help you need?, the explanation to the terms you provided is correct but you need to look for proper definitions at net...
    Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has.

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    katlego (01-20-2014)

  4. #3
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    Re: Introduction to Estimation(need help with terms)


    The answer "correct" is sufficient for now if by correct you meant that you manged to see the relationship between the terms and most importantly not confuse them. For now I only want definitions that can give an intuitive idea about each term.

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