April 2019
Beginner to intermediate
1240 pages
45h 43m
English
Content preview from Data Science for Business and Decision Making
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Chapter 8
Estimation
Abstract
This chapter discusses how estimation is inserted in the context of statistical inference. Population parameters can be estimated through a single point (point estimation) or through a set of values (interval estimation). The main point and interval estimation methods will be discussed in this chapter. Thus, it will be possible to identify the main advantages and limitations of each method.
Keywords
Population parameters; Point estimation; Interval estimation; Method of moments; Ordinary least squares; Maximum likelihood estimation; Confidence intervals
A comprehensive study of nature is the most fruitful source of mathematical discoveries.
Joseph Fourier
8.1 Introduction
As previously described, statistical ...
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