MA121: Introduction to Statistics

4.1: Point Estimators and Their Characteristics

• 4.1.1: Sample Statistics and Parameters

  • Basic Sample Statistics and Parameters Book

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    First, we'll discuss the basic concepts of sample statistics and population parameters. Then, we'll talk about the degree of freedom, which is the number of independent pieces of information that a point estimate is based on. Finally, we will talk about variance, which depends on the degrees of freedom.
    

• 4.1.2: Bias and Sampling Variability

  • Characteristics of Estimators Book

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    This section discusses two important characteristics used as point estimates of parameters: bias and sampling variability. Bias refers to whether an estimator tends to over or underestimate the parameter. Sampling variability refers to how much the estimate varies from sample to sample.