Page 391 - DMTH404_STATISTICS

Richa Nandra, Lovely Professional University Unit 29: Estimation of Parameters: Criteria for Estimates

Unit 29: Estimation of Parameters: Criteria for Estimates Notes

CONTENTS

Objectives
Introduction
29.1 Theory of Estimation
29.2 Point Estimation

29.2.1 Unbiasedness
29.2.2 Consistency
29.2.3 Efficiency
29.2.4 Sufficiency

29.2.5 Methods of Point Estimation
29.3 Interval Estimation
29.3.1 Determination of an Approximate Sample Size for a Given Degree of Accuracy
29.3.2 Confidence Interval for Population Standard Deviation

29.4 Summary
29.5 Keywords
29.6 Self Assessment
29.7 Review Questions

29.8 Further Readings

Objectives

After studying this unit, you will be able to:

 Discuss Theory of Estimation
 Explain Point Estimation (Properties of Good Estimators)
 Describe Interval Estimation

Introduction

Estimation: It is a procedure by which sample information is used to estimate the numerical
magnitude of one or more parameters of the population. A function of sample values is called an
estimator (or statistic) while its numerical value is called an estimate. For example is an estimator
of population mean m. On the other hand if for a sample, the estimate of population mean is
said to be 50.

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