What is Point Estimation in Statistics?
Point estimation is a statistical method used to estimate an unknown parameter of a population based on sample data. It involves choosing a single value, called a point estimator, to represent the parameter of interest. The point estimator serves as the best guess for the true parameter.
Point Estimation
Point estimation is a fundamental concept in statistics providing a method for estimating population parameters based on sample data. In this article, we will discuss point estimation, its techniques and its significance in detail.
Table of Content
- What is Point Estimation in Statistics?
- Properties of Point Estimators
- Methods Used to Calculate Point Estimators
- Formulae to Measure Point Estimators
- Solved Examples on Point Estimation
- Practice Problems on Point Estimation
- FAQs on Point Estimation
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