Chapter 6

Chapter 6 - Chapter 6. Point Estimation Question : What is...

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Chapter 6. Point Estimation Question : What is the mean or s.d. of the population? Statistical Inference : draw some type of conclusion (depending on questions interested) about population characteristics (parameters) - obtain sample data & conclude based on computed values of statistics Point estimation - Guess (estimate) the true parameter value ( , μ σ ) by using the sample - obtain a sample and calculate a Statistic 6.1 Some General Concepts of Point Estimation Parameter of interest : (eg: , ) θ Objective : select a single number (point) that represents a sensible value for , based on sample data Def) A Point Estimate of : a single number that can be regarded as a sensible value for .
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- obtained by selecting a suitable statistic and computing its value from the sample data A Point Estimator of θ : the selected statistic for the point estimate. - point estimate is a realization of point estimator Ex 6.2 : 20 observations - 1 2 20 , , , X X X L Estimator= X , estimate= x
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Chapter 6 - Chapter 6. Point Estimation Question : What is...

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