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Acronyms that contain the term point estimation
What does point estimation mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: point estimation.
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What does point estimation mean?
- Point estimation
- In statistics, point estimation involves the use of sample data to calculate a single value (known as a point estimate since it identifies a point in some parameter space) which is to serve as a "best guess" or "best estimate" of an unknown population parameter (for example, the population mean). More formally, it is the application of a point estimator to the data to obtain a point estimate. Point estimation can be contrasted with interval estimation: such interval estimates are typically either confidence intervals, in the case of frequentist inference, or credible intervals, in the case of Bayesian inference.
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"point estimation." Abbreviations.com. STANDS4 LLC, 2024. Web. 5 Jun 2024. <https://www.abbreviations.com/point%20estimation>.
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