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Home Q & A Board Science-Related Homework Help Mathematics Statistics and Probability
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sweetapple718 sweetapple718
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A year ago
Why is a point estimate alone insufficient for providing a probabilistic estimate of a parameter?


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Because a point estimate only estimates the parameter, it will never provide us with its value.



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Although the point estimate provides a good guess for the parameter, it is a single value and, for a continuous variable, the probability the parameter equals this single value is 0.



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The calculation of the point estimate is too fraught with uncertainty to provide an accurate probability estimate.



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A point estimate is too static to accurately estimate a dynamic parameter.

Textbook 
Introductory Statistics: A Problem-Solving Approach

Introductory Statistics: A Problem-Solving Approach


Edition: 3rd
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teamroketteamroket
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