Question
In: Accounting
An estimator is a random variable calculated from a random sample that provides either a point...
An estimator is a random variable calculated from a random sample that provides either a point estimate or an interval estimate for some population parameter.
True/ False
Solutions
Expert Solution
True, An estimator is a random variable calculated from a random sample that provides either a point estimate or an interval estimate for some population parameter.
Explanation:
In statistics estimator is used in estimation of the facts of the given population. It involves the function of observation of the samples from a given population , which gives the estimate of the population parameter. there is s set of rules to be followed to create an estimate. Estimate is a numerical value of the estimator that is derived from the given Sample. Thus a parameter estimation is called estimator while as estimate is the numerical value of the estimator. Thus An estimator is a random variable calculated from a random sample that provides either a point estimate or an interval estimate for some population parameter.
Point estimate: For the estimation of the population parameter point estimate is the single value that is used for it. It is a random variable that is calculated from sample data to estimate population parameter
Interval estimate: its the estimate of the interval within which the possibilty of the occuring of the value of a parameter of a population is stated, it involves use of sample data , its that interval that estimates the population parameter.
ekkarill92 answered 1 year agoRelated Solutions
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MUST INCLUDE:
The knowns
Graphs
Formulas
Steps to Solve
Box the...
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