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

Geometry, can i get some triangle congruence proofs help?

can i get some triangle congruence proofs help?

Shares and dividends, at what price a 6.25%rs 100 share be quoted when the ...

at what price a 6.25%rs 100 share be quoted when the money is worth 5%

Convert measurements between the english system, Convert measurements betwe...

Convert measurements between the English system? To convert measurements between the English system and the metric system: 1. Look up the conversion between the two units of

Determine how many square centimeters, Determine how many square centimeter...

Determine how many square centimeters of paper are needed to make a label on a cylindrical can 45 cm tall with a circular base having diameter of 20 cm. Leave answer in terms of π.

Calculus, Given f (x) =10x^3 - x^5 , find all intervals(in Interval Notatio...

Given f (x) =10x^3 - x^5 , find all intervals(in Interval Notation) of Concavity and the x-values of all Inflection Points.

Lance has 70 cents margaret has 3/4 who has the most money, Lance has 70 ce...

Lance has 70 cents, Margaret has three-fourths of a dollar, Guy has two quarters and a dime, and Bill has six dimes. Who has the most money? Lance has 70 cents. Three-fourths o

They preferred comedies, A survey was done where a random sample of people ...

A survey was done where a random sample of people 18 and over were asked if they preferred comedies, dramas, or neither. The information gathered was broken down by age group and t

Conic sections, The locus of the midpoint of the chords of an ellipse which...

The locus of the midpoint of the chords of an ellipse which are drawn through an end of minor axis is called

Differential equations, verify liouville''s theorem for y''''''-y''''-y''+...

verify liouville''s theorem for y''''''-y''''-y''+y=0

Statistics, do we calculate midpoints from classes or from class boundaries...

do we calculate midpoints from classes or from class boundaries

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