Point Estimation

Description

A-Levels Further Mathematics Flowchart on Point Estimation, created by Alex Burden on 02/04/2017.
Alex Burden
Flowchart by Alex Burden, updated more than 1 year ago
Alex Burden
Created by Alex Burden almost 7 years ago
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Resource summary

Flowchart nodes

  • Point Estimation
  • Estimatior - any statistic to estimate a characteristic of a population
  • Unbiased estimator is denoted by: E(T)=α
  • The most efficient and best estimator for α, is the estimator that:is unbiasedhas the smallest variance
  • Most Efficient of Population Mean
  • Unbiased Estimator:
  • Most Efficient of Population Variance
  • Best unbiased estimator of population variance: σ̂^2S^2 = variance of the sample
  • Can also be noted as
  • Best Unbiased Estimator of a Probability/Proportion
  • X~Bin(n,α)unbiased estimator:          Estimated Standard Error:                           p̂=Ps where Ps = sample proportion
  • Distribution of the Sample Proportion
  • For both np>5 and nq>5 a continuity correction needs to be used.If n>30, by C.L.T. :-                      Continuity correction for                  is:             if using equation above
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