Estimations of Population Parameters

Milan Holický
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Milan Holický: Czech Technical University in Prague, Klokner Institute, Department of Structural Reliability

Chapter Chapter 8 in Introduction to Probability and Statistics for Engineers, 2013, pp 95-107 from Springer

Abstract: Abstract The estimation of population parameters from limited sample data is an indispensable part of any engineering and scientific application of probability and mathematical statistics. Based on appropriate sampling distributions, two types of estimate are commonly applied: point and interval estimates. Point estimates of the population mean and variance are obtained as the mean of relevant sampling distributions evaluated for the sample mean and variance. Interval estimates are obtained as the intervals of relevant sampling distribution that cover the population parameters with a given probability called confidence level. Guidance is given on how to specify the sample size of an experimental investigation with the accuracy required for the estimate of the population mean. Notes on estimating the population skewness are also provided. A review of basic formulae used for point estimates of the population mean, variance and skewness is provided in Appendix 1.

Keywords: Relevant Sampling Distributions; Limited Sample Data; Skewed Population; Interval Estimation; Population Standard Deviation (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-38300-7_8

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DOI: 10.1007/978-3-642-38300-7_8

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