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I've been doing a little bit of research on this and i think the main difference between the two is that an estimator is function/formula/a process of calculations that give you an estimate( which is a final figure that expresses and is meant to equal a figure i.e population mean but does not actually equal it due to various errors in the given data/sample)
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Difference between estimate estimator?
I think, the estimate is a numerical value, wile the estimator is a function or operator, which can be generate more estimates according to some factors. For example (xbar) is estimator for (meu), which can be various when the sample size in various, the value that will be produced is an (estimate), but (xbar) is estimator.
What is an unbiased estimator?
An unbiased estimator is a person who gives a price for a service or goods and that person has no ulterior motives that would influence the price either way. A person who is biased might reflect the estimated price to show favor to one person more than another. For example: If my uncle was to bid on a job and I was the estimator for the person who wanted the work done, then I would have a bias in that I would reflect the price so that my uncle would get the job. This is unethical and illegal. An unbiased person has no preference as to who would get the job and would do the estimate honestly. An unbiased estimator has a very specific meaning in statistics and a good statistician needs to answer this meaning of the term.
What is the difference between estimator and estimate?
Estimator is a noun that usually refers to the person or device doing the calculating or figuring. The estimate also can be used as a noun, referring to the result of a calculation or amount figured out, whether it be financial or area (i.e. furniture dimensions or price), it is the end result. However, estimate can also be used as the verb-the act of doing the calculating to come up with a certain amount or number.
How can descriptive statistics be used to understand a samples characteristics?
Will a sample descriptive statistics accurately estimate the underlying population's parameters?
How can you estimate sums or differences of decimals?
In the same way as you estimate them for whole numbers.
Differentiate estimate and estimator?
It can get a bit confusing! The estimate is the value obtained from a sample. The estimator, as used in statistics, is the method used. There's one more, the estimand, which is the population parameter. If we have an unbiased estimator, then after sampling many times, or with a large sample, we should have an estimate which is close to the estimand. I will give you an example. I have a sample of 5 numbers and I take the average. The estimator is taking the average of the sample. It is the estimator of the mean of the population. The average = 4 (for example), this is my estmate.
Difference between estimate estimator?
I think, the estimate is a numerical value, wile the estimator is a function or operator, which can be generate more estimates according to some factors. For example (xbar) is estimator for (meu), which can be various when the sample size in various, the value that will be produced is an (estimate), but (xbar) is estimator.
What is the best estimator of population mean?
The best estimator of the population mean is the sample mean. It is unbiased and efficient, making it a reliable estimator when looking to estimate the population mean from a sample.
What is the formal term used for a insurance person who estimate damages?
An "estimator"
Are free income tax estimators as good as paid estimators?
Yes, a free income tax estimator can be as good as a paid income tax estimator. A tax estimator just allows you to have an estimate of your tax return.
What are the properties of good estimators?
There are four main properties associated with a "good" estimator. These are: 1) Unbiasedness: the expected value of the estimator (or the mean of the estimator) is simply the figure being estimated. In statistical terms, E(estimate of Y) = Y. 2) Consistency: the estimator converges in probability with the estimated figure. In other words, as the sample size approaches the population size, the estimator gets closer and closer to the estimated. 3) Efficiency: The estimator has a low variance, usually relative to other estimators, which is called relative efficiency. Otherwise, the variance of the estimator is minimized. 4) Robustness: The mean-squared errors of the estimator are minimized relative to other estimators.
What is the purpose of a closing cost estimator?
A Closing Cost Estimator or Calculator is used to estimate your total closing expenses based on the information you provide into the tool. Many banks and financial institutions provide the tool.
What is an unbiased estimator?
An unbiased estimator is a person who gives a price for a service or goods and that person has no ulterior motives that would influence the price either way. A person who is biased might reflect the estimated price to show favor to one person more than another. For example: If my uncle was to bid on a job and I was the estimator for the person who wanted the work done, then I would have a bias in that I would reflect the price so that my uncle would get the job. This is unethical and illegal. An unbiased person has no preference as to who would get the job and would do the estimate honestly. An unbiased estimator has a very specific meaning in statistics and a good statistician needs to answer this meaning of the term.
What is a free income tax estimator?
Free income tax estimator is a calculator that you put basic information into. Yearly income, federal tax withheld, number of dependents. Then it will give you an estimate of your refund or if you owe money.
An estimator is consistent if as the sample size decreases the value of the estimator approaches the value of the parameter estimated F?
I believe you want to say, "as the sample size increases" I find this definition on Wikipedia that might help: In statistics, a consistent sequence of estimators is one which converges in probability to the true value of the parameter. Often, the sequence of estimators is indexed by sample size, and so the consistency is as sample size (n) tends to infinity. Often, the term consistent estimator is used, which refers to the whole sequence of estimators, resp. to a formula that is used to obtain a term of the sequence. So, I don't know what you mean by "the value of the parameter estimated F", as I think you mean the "true value of the parameter." A good term for what the estimator is attempting to estimate is the "estimand." You can think of this as a destination, and your estimator is your car. Now, if you all roads lead eventually to your destination, then you have a consistent estimator. But if it is possible that taking one route will make it impossible to get to your destination, no matter how long you drive, then you have an inconsistent estimator. See related links.
What is meant by the term construction estimator software?
Construction Estimator Software is a type of software for contractors for estimate templates, job tracking and project management. This allows contractors to better understand and visualize their projects in order to avoid any unnecessary errors.
Is 500 a reasonable estimate for the difference 749 259?
It depends on what a 'reasonable estimator' is. A good estimator is usually one which is considered unbiased. That is Expected value of the estimator = E[x] = the answer In your case, the E[x] = 500 but the answer is actually 490. This represents a 2% margin of error. Since it's a pretty simple computation, I personally think that error is not reasonable.
