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

What is a negative number, Q. What is a Negative Number? Ans. Neg...

Q. What is a Negative Number? Ans. Negative numbers  are very important in mathematics. We say that positive and negative numbers are  opposites  of one another. Here

Word problem time vs desent, altitude 35000 @ 9:30 9;42 alt 17500 increase...

altitude 35000 @ 9:30 9;42 alt 17500 increase speed by factor of 3 level out at 2500= how much time will it take

SHOPPERS`STOP, 3. How are Indian customers visiting Shoppers’ Stop any diff...

3. How are Indian customers visiting Shoppers’ Stop any different from customers of developed western countries? 4. How should Shoppers’ Stop develop its demand forecasts?

How to converting percents to fractions, How to Converting Percents to Frac...

How to Converting Percents to Fractions ? To convert a percent to a fraction: 1. Remove the percent sign. 2. Create a fraction, in which the resulting number from Step 1 is

Payoffs dominations, how do you no wich row or columms dominate other rows ...

how do you no wich row or columms dominate other rows or columms in a payoff

Holistic marketing , Necessity of holistic marketing or importance of holis...

Necessity of holistic marketing or importance of holistic marketing

Mathematics- in our lives , MATHEMATICS - IN OUR LIVES : What is the mo...

MATHEMATICS - IN OUR LIVES : What is the most obvious example of mathematics in your life? To many of us it is the maths that we studied in school. But is that all the mathemat

Fundamental theorem of calculus, Fundamental Theorem of Calculus, Part II ...

Fundamental Theorem of Calculus, Part II Assume f ( x ) is a continuous function on [a,b] and also assume that F ( x ) is any anti- derivative for f ( x ) . Then,

Rules of integration, Rules of Integration 1. If ...

Rules of Integration 1. If 'k' is a constant then ∫Kdx =  kx + c 2. In

Arc length formula - applications of integrals, Arc length Formula L = ...

Arc length Formula L = ∫ ds Where ds √ (1+ (dy/dx) 2 ) dx                                     if y = f(x), a x b ds √ (1+ (dx/dy) 2 ) dy

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