plz eleborate the point estimate with examples.........

89 Views|Posted 2013-01-17 18:35:17

Asked by Usma Cheema

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Answered by

Nithin Kumar | Contributor-Level 9

2013-01-17 18:39:21

In statistics, point estimation involves the use of sample data to calculate a single value (known as a statistic) which is to serve as a "best guess" or "best estimate" of an unknown (fixed or random) population parameter. More formally, it is the application of a point estimator to the data. In