Asked by Ammar Bakdash on Sep 29, 2024
A point estimate consists of a single sample statistic that is used to estimate the true population parameter.
Point Estimate
A single value given as an estimate of a population parameter, often derived from sample data.
Population Parameter
A numerical value that characterizes a given population, such as mean or standard deviation.
Sample Statistic
A numerical measure calculated from a sample data set used to estimate characteristics of the population from which it is drawn.
- Make a distinction between point and interval estimates.
Learning Objectives
- Make a distinction between point and interval estimates.