Statistical estimation, Mathematics

Assignment Help:

Statistical estimation

This is the procedure of using statistic to estimate a population parameter

This is divided into point estimation whereas an estimate of a population parameter is described by a single number and interval estimation whereas an estimate of a population is described by a range whether the parameter may be considered to lie for illustration, a bus meant to take a class of 100 students as population N for trip has a limit to the maximum weight of 600 kilogram (kg) of which it can carry, the teacher realizes he has to determine the weight of the class but without sufficient time to weigh everyone he picks 25 students selected at random as like sample n = 25.  These students are weighed and their average weight recorded as 64 kilogram(kg) (x¯ - mean of a sample) along with a standard deviation (s), now by using this the teacher intends to estimate the average weight of the whole class (µ - population mean) by utilizing the statistical parameters standard deviation (s), and mean of the sample (x¯).

Characteristic of a good estimator

(i) Unbiased: whereas the expected value of the statistic is equal to the population parameter for illustration, if the expected mean of a sample is equal to the population mean

(ii) Consistency: whereas an estimator yields values more closely approaching the population parameter like the sample increases

(iii) Efficiency: whereas the estimator has smaller variance on repeated sampling.

(iv) Sufficiency: whereas an estimator uses all the information available in the data relating to a parameter

 


Related Discussions:- Statistical estimation

Example to compute limit, calculates the value of the following limit. ...

calculates the value of the following limit. Solution Now, notice that if we plug in θ =0 which we will get division by zero & so the function doesn't present at this

The rank correlation coefficient (r), The Rank Correlation Coefficient (R) ...

The Rank Correlation Coefficient (R) Also identified as the spearman rank correlation coefficient, its reasons is to establish whether there is any form of association among tw

What is the area of the square in simplified form, If the side of a square ...

If the side of a square can be expressed as a2b 3 , what is the area of the square in simplified form? Since the formula for the area of a square is A = s 2 , then by substitut

Function notation, Function notation: Next we have to take a rapid look at...

Function notation: Next we have to take a rapid look at function notation. Function notation is nothing more than way of writing the y in a function which will let to simplify not

Compound interest, principal=2000 rate=5% time=2 years find compound intere...

principal=2000 rate=5% time=2 years find compound interest

Simple interest, find the simple interest on Rs. 68,000 at 50/3 per annum f...

find the simple interest on Rs. 68,000 at 50/3 per annum for 9 month

What is the probability that the integer chosen is divisible, An integer i...

An integer is chosen at random from the first two hundreds digit. What is the probability that the integer chosen is divisible by 6 or 8.                    (Ans : 1/4 ) Ans:

the demand forecast, The King Company is producing two types of products: ...

The King Company is producing two types of products: A and B. Both products are produced on the similar machining operation. The machines operate on two 8-hour shifts, 5 days per w

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd