|
Estimation Methods
Estimation (or estimating) is the process of finding an estimate or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. The value is nonetheless usable because it is derived from the best information available.C. Lon Enloe, Elizabeth Garnett, Jonathan Miles, ''Physical Science: What the Technology Professional Needs to Know'' (2000), p. 47. Typically, estimation involves "using the value of a statistic derived from a sample to estimate the value of a corresponding population parameter".Raymond A. Kent, "Estimation", ''Data Construction and Data Analysis for Survey Research'' (2001), p. 157. The sample provides information that can be projected, through various formal or informal processes, to determine a range most likely to describe the missing information. An estimate that turns out to be incorrect will be an overestimate if the estimate exceeds the actual result and an underestimate if the estimate fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Candy Corn Contest Jar
Candy, alternatively called sweets or lollies, is a confection that features sugar as a principal ingredient. The category, also called '' sugar confectionery'', encompasses any sweet confection, including chocolate, chewing gum, and sugar candy. Vegetables, fruit, or nuts which have been glazed and coated with sugar are said to be '' candied''. Physically, candy is characterized by the use of a significant amount of sugar or sugar substitutes. Unlike a cake or loaf of bread that would be shared among many people, candies are usually made in smaller pieces. However, the definition of candy also depends upon how people treat the food. Unlike sweet pastries served for a dessert course at the end of a meal, candies are normally eaten casually, often with the fingers, as a snack between meals. Each culture has its own ideas of what constitutes candy rather than dessert. The same food may be a candy in one culture and a dessert in another. History The word candy entered the E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prediction
A prediction (Latin ''præ-'', "before," and ''dictum'', "something said") or forecast is a statement about a future event or about future data. Predictions are often, but not always, based upon experience or knowledge of forecasters. There is no universal agreement about the exact difference between "prediction" and " estimation"; different authors and disciplines ascribe different connotations. Future events are necessarily uncertain, so guaranteed accurate information about the future is impossible. Prediction can be useful to assist in making plans about possible developments. Opinion In a non-statistical sense, the term "prediction" is often used to refer to an informed guess or opinion. A prediction of this kind might be informed by a predicting person's abductive reasoning, inductive reasoning, deductive reasoning, and experience; and may be useful—if the predicting person is a knowledgeable person in the field. The Delphi method is a technique for elicitin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Estimation Theory
Estimation theory is a branch of statistics that deals with estimating the values of Statistical parameter, parameters based on measured empirical data that has a random component. The parameters describe an underlying physical setting in such a way that their value affects the distribution of the measured data. An ''estimator'' attempts to approximate the unknown parameters using the measurements. In estimation theory, two approaches are generally considered: * The probabilistic approach (described in this article) assumes that the measured data is random with probability distribution dependent on the parameters of interest * The set estimation, set-membership approach assumes that the measured data vector belongs to a set which depends on the parameter vector. Examples For example, it is desired to estimate the proportion of a population of voters who will vote for a particular candidate. That proportion is the parameter sought; the estimate is based on a small random sa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Estimation Statistics
Estimation statistics, or simply estimation, is a data analysis framework that uses a combination of effect sizes, confidence intervals, precision planning, and meta-analysis to plan experiments, analyze data and interpret results. It complements hypothesis testing approaches such as Statistical hypothesis testing, null hypothesis significance testing (NHST), by going beyond the question is an effect present or not, and provides information about how large an effect is. Estimation statistics is sometimes referred to as ''the new statistics''. The primary aim of estimation methods is to report an effect size (a point estimate) along with its confidence interval, the latter of which is related to the precision of the estimate. The confidence interval summarizes a range of likely values of the underlying population effect. Proponents of estimation see reporting a P-value, ''P'' value as an unhelpful distraction from the important business of reporting an effect size with its confide ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
