Data what is the most likely value of point estimate

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Unformatted text preview: is the “most likely” value of μ ? (Point estimate) Example : Given the data, within what limits the population proportion p lies 95% of the times ? (Interval estimate) Examples Want to know the average annual earnings of graduating students Estimation: Estimate μ, the average annual income Among two candidates X and Y in an election who will get what percentage of votes ? Estimation: Estimate p, proportion of votes X gets Components of Estimation Method of making the estimation: which estimator? A numerical...
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