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From Wikipedia

Point estimation

In statistics, point estimation involves the use of sampledata to calculate a single value (known as a statistic) which is to serve as a "best guess" for an unknown (fixed or random) population parameter.

More formally, it is the application of a point estimator to the data.

In general, point estimation should be contrasted with interval estimation.

Point estimation should be contrasted with general Bayesian methods of estimation, where the goal is usually to compute (perhaps to an approximation) the posterior distributions of parameters and other quantities of interest. The contrast here is between estimating a single point (point estimation), versus estimating a weighted set of points (a probability density function). However, where appropriate, Bayesian methodology can include the calculation of point estimates, either as the expectation or median of the posterior distribution or as the mode of this distribution.

In a purely frequentist context (as opposed to Bayesian), point estimation should be contrasted with the specific interval estimation calculation of confidence intervals.

Routes to deriving point estimates directly

Routes to deriving point estimates via Bayesian Analysis

Properties of Point estimates



From Yahoo Answers

Question:STA 2023

Answers:The point estimate is always the number in the middle: here, 14.

Question:All I have is a computer output that says regression analysis and the data. It's for comparing latitude and temperature. I know the point estimate is the number of possible outcomes divided by the total number but I don't have any of the info to actually calculate it like that since all I have is the computer output. Please help. Thanks It's to compare the two means so that I can do a confidence interval

Answers:A point estimate is a sample statistic that estimates a population parameter. For example, the sample mean is a point estimate of the population mean. For what population parameter do you wish a point estimate for in this problem?

Question:In a survey of 500 residents, 300 were opposed to the use of the photo-cop for issuing traffic tickets. what is the best point estimate for the proportion of all residents opposed to the photo-cop use? The answer is 60%, but i don't know how to get it

Answers:ANSWER: 60% = (300/500) * 100

Question:Estimate to the nearest interger. Square of 18. Square of 24. Square of 38. **square as in, the square root sign thingy. The numbers are in the sign.

Answers:Usually square roots are expressed as SquareRoot or SqrRt. You should memorize the squares. The nearest square to 18 is 4*4=16 So now you know the number is atleast bigger than 4. so you try 5*5=25 So you know the number is some digit between 4 and 5. so 4.xx Now try it with the other ones and than whip out a calculator and try it.

From Youtube

PMP Exam Preparation: Introduction to Three Point Estimating :Sir Ganttalot helps you prepare for the PMP exam by explaining Three-Point Estimating. The video explains how to derive a Mean Estimate, how to calculate Standard Deviation (Sigma), and how to calculate Variance. In all cases both Triangular and PERT techniques are addressed. A second, related, video then shows how to apply Sigma values to calculate Confidence Levels for Estimates

Excel Statistics 75: Point Estimates & Sample Error :Topics for: 1.See how to take a sample from a data set using the INT, RAND, and VLOOKUP functions 2.Calculate our Point estimates: Mean, Standard Deviation and Proportions 3.Calculate Sampling Error for our Point Estimates 4.Calculate Sample Proportions using COUNTIF function 5. Busn 210 Business Statistical Using Excel Highline Community College taught by Mike Gel excelisfun Girvin