Estimation

What Estimation is

Estimation is a statistical process used to draw conclusions from a sample data set about a larger population of interest. Estimation involves the use of sample data to calculate estimates of population parameters such as means, proportions, and variances.

The steps for estimation include:

1. Define the population of interest and the parameters that you would like to estimate.

2. Select a sample of the population and collect the data.

3. Calculate the sample statistics.

4. Calculate the point estimate of the parameter.

5. Calculate a confidence interval around the point estimate.

6. Interpret the results of the estimation.

Examples

1. Estimating the population mean from a sample of data.
2. Estimating the standard deviation of a population from a sample.
3. Estimating the probability of an event from sample data.
4. Estimating the regression coefficients from a regression model.
5. Estimating the probability density function of a random variable from a sample.
6. Estimating the reliability of a product from a sample of test results.
7. Estimating the mean of a population from a confidence interval.
8. Estimating the parameters of a distribution from a sample of data.

Related Topics

• DEVIATION

• MEAN

• PROBABILITY

• SET

• VARIABLE

• POPULATION

• DENSITY

• REGRESSION

• EVENT

• SAMPLE

• DISTRIBUTION