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Estimation involves using sample statistics to estimate unknown population parameters. There are two main types of estimation: point estimation and interval estimation. Point estimation yields a single value estimate, like using the sample mean as a point estimate of the population mean. Interval estimation provides a range of plausible values for the parameter, like estimating that the population mean falls within a certain interval with a given degree of confidence. Examples help explain the difference between an estimator, which is a statistic, and an estimate, which is the computed value of the estimator based on sample data.

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71 views5 pages

Project 2..research

Estimation involves using sample statistics to estimate unknown population parameters. There are two main types of estimation: point estimation and interval estimation. Point estimation yields a single value estimate, like using the sample mean as a point estimate of the population mean. Interval estimation provides a range of plausible values for the parameter, like estimating that the population mean falls within a certain interval with a given degree of confidence. Examples help explain the difference between an estimator, which is a statistic, and an estimate, which is the computed value of the estimator based on sample data.

Uploaded by

Raj Kumar
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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ESTIMATION

In statistics, an estimator is a rule for calculating an estimate of a given quantity based on observed data: statistical estimation in a procedure of estimating the unknown population parameters from the corresponding sample statistics.

DEFINITION:
Estimators and estimates:-for the purpose of estimating a population parameter we can use sample statistics. Those sample statistics which are used to estimate the unknown population parameters are called estimators and the actual value taken by estimators are called estimates.

TYPES OF ESTIMATORS:
There are point and interval estimators. The point estimators yield single-valued results, although this includes the possibility of single vector-valued results and results that can be e pressed as a single function. This is in contrast to an interval estimator, where the result would be a range of plausible values !or vectors or functions".There are two types of estimation of parameters we consider. #" The first one is called point estimation. In point estimation,
#

we give a number as an estimate for the parameter. $or e ample, if we are trying to estimate the mean height of the %merican population, we take a sample, compute the sample mean height &" and call it an estimate for m.

The second type of estimation is called interval estimation. In interval estimation we give an interval !', (" and say that the parameter will be within this interval !with certain degree of confidence". $or e ample, while estimating the mean height m )of the %merican population, we may take a sample, compute the sample mean and say that the -#, *#".

population mean m)is within the interval !

+bviously, in interval estimation, smaller the length (-' of the interval better it is !and also higher the degree of confidence better it is".

Explanation of Point and Interval Estimation wit t e elp of examples!

"!

Point Estimation:

%s we have already mentioned, we use a statistic to estimate a parameter. $or e ample, we say that the sample mean , is an
&

estimator of the population mean m and the computed value

of ,

is an estimate of m. The estimator is a sampling random variable and the estimate is a number. -imilarly, the sample standard deviation - is an estimator of the population standard deviations and the computed value s of - is an estimate of s. Try to see the difference between an estimator and an estimate. %n estimator is a random variable and an estimate is a number !that is the computed value of the estimator". This may be intuitively clear to you that the sample mean , is a natural point estimator of m and sample proportion of success , is a natural point estimator of the population proportion p of success.

-o, if we are asked to give a point estimate of m we .ust compute and say that is a point estimate for m. -imilarly we deal with

point estimation of p. -imilarly, the sample median would be a natural point estimator for the population median.

#!

Interval Estimation:

%lmost never, we would e pect a point estimate of a parameter t to be e actly equal to the actual value of the parameter t. $or e ample, we would never e pect that the sample mean equal to the e act value of m.
/

would be

That is why, it is more reasonable that we give an interval !', (" and say that the parameter t would be within this interval !', (". 0ere ', ( will be -tatistics. -ince the computed values ' 1 l, ( 1 u

will depend on the sample, we do not e pect that the value of t will always be within this computed interval !l, u". 2e are happy as long as the true value of t falls within !l, u" most often !or often enough", allowing the possibility that a few times we will be 3wrong3. The 4robability 4!' 5 t 5 (" and 4!t not in !',("" give us how often we would be correct or wrong, respectively. This is what we do in interval estimation, and !l, u" is also called a confidence interval of t.

PRO$E%T REPORT ON ESTIMATION T&EORY

S'(MITTED TO: 78-. 48I9:% :0%;;%

S'(MITTED (Y: -08%<<0% =%I; 7.>+7-I 8+'' ;+.?@&/

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