Results 1 to 2 of 2

Math Help - Best point estimate for a sample of numbers

  1. #1
    Member
    Joined
    Oct 2007
    Posts
    145

    Best point estimate for a sample of numbers

    I have a sample of 20 random numbers, represented by Y_i, ranging from 1 to 100,

    Why is \bar{Y}=\sum{Y_i \over n} considered the best point estimate of Y_i?
    Last edited by chopet; September 28th 2008 at 07:19 AM.
    Follow Math Help Forum on Facebook and Google+

  2. #2
    Flow Master
    mr fantastic's Avatar
    Joined
    Dec 2007
    From
    Zeitgeist
    Posts
    16,948
    Thanks
    5
    Quote Originally Posted by chopet View Post
    I have a sample of 20 random numbers ranging from 1 to 100, Y_i

    Why is \bar{Y}=\sum{Y_i \over n} considered the best point estimate of Y_i?
    What does Y_i represent?
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. What is the point estimate for p1-p2?
    Posted in the Statistics Forum
    Replies: 1
    Last Post: December 7th 2011, 09:37 PM
  2. Sample Size Estimate
    Posted in the Statistics Forum
    Replies: 1
    Last Post: April 25th 2011, 05:26 PM
  3. Determining Point Estimate.
    Posted in the Advanced Statistics Forum
    Replies: 1
    Last Post: March 18th 2011, 10:51 PM
  4. Point estimate and Interval estimate
    Posted in the Advanced Statistics Forum
    Replies: 0
    Last Post: October 11th 2009, 08:42 AM
  5. Point Estimate
    Posted in the Statistics Forum
    Replies: 1
    Last Post: November 21st 2006, 11:02 AM

Search Tags


/mathhelpforum @mathhelpforum