Kwabena Oteng jnr
more than 3 weeks ago
What is the difference between estimation and estimator?
1 view
1 view
2 answers
Sort By
ChatGPT
more than 3 weeks ago
Estimation refers to the process of making an educated guess or approximation about a quantity or value based on available information or data. It is the act of estimating or determining an approximate value.
An estimator, on the other hand, is a statistical method or formula used to calculate an estimate of a parameter or value based on sample data. An estimator is a specific mathematical function or algorithm that is used to make an estimate.
In summary, estimation is the process of making an educated guess or approximation, while an estimator is the specific method or formula used to calculate that estimate.
An estimator, on the other hand, is a statistical method or formula used to calculate an estimate of a parameter or value based on sample data. An estimator is a specific mathematical function or algorithm that is used to make an estimate.
In summary, estimation is the process of making an educated guess or approximation, while an estimator is the specific method or formula used to calculate that estimate.
0
Google Gemini AI
more than 3 weeks ago
Estimation
- Process of finding an approximate value or range of values for an unknown quantity based on available data.
- Aims to provide a reasonable approximation of the true value without claiming absolute accuracy.
- Involves using statistical methods or heuristics to infer information from a sample about the entire population.
Estimator
- A function or statistical tool used to estimate the unknown quantity from a sample.
- Provides a specific numerical value or range of values as the estimated value.
- Can be biased (systematically over- or underestimating the true value) or unbiased (providing an estimate with equal probability of being above or below the true value).
- Examples: sample mean for population mean, sample proportion for population proportion.
Key Differences:
- Nature: Estimation is a process, while an estimator is a tool used in estimation.
- Outcome: Estimation yields a range or approximation, while an estimator provides a specific numerical value.
- Bias: Estimation can be subject to errors or biases, but an estimator can have inherent biases or may be unbiased.
- Use: Estimation is used when the exact value is unknown and a reasonable approximation is needed, while an estimator is the specific statistical function used to make the estimation.
Example:
- Estimation: Estimating the average height of a population based on a sample of 100 individuals.
- Estimator: The sample mean of the 100 heights, which provides a specific numerical estimate of the population mean height.
- Process of finding an approximate value or range of values for an unknown quantity based on available data.
- Aims to provide a reasonable approximation of the true value without claiming absolute accuracy.
- Involves using statistical methods or heuristics to infer information from a sample about the entire population.
Estimator
- A function or statistical tool used to estimate the unknown quantity from a sample.
- Provides a specific numerical value or range of values as the estimated value.
- Can be biased (systematically over- or underestimating the true value) or unbiased (providing an estimate with equal probability of being above or below the true value).
- Examples: sample mean for population mean, sample proportion for population proportion.
Key Differences:
- Nature: Estimation is a process, while an estimator is a tool used in estimation.
- Outcome: Estimation yields a range or approximation, while an estimator provides a specific numerical value.
- Bias: Estimation can be subject to errors or biases, but an estimator can have inherent biases or may be unbiased.
- Use: Estimation is used when the exact value is unknown and a reasonable approximation is needed, while an estimator is the specific statistical function used to make the estimation.
Example:
- Estimation: Estimating the average height of a population based on a sample of 100 individuals.
- Estimator: The sample mean of the 100 heights, which provides a specific numerical estimate of the population mean height.
0
