Point estimation concerns making inferences about a quantity that is unknown but about which some information is available, e.g., a fixed quantity 6 for which we have n imperfect measurements x1 …, xn. The theory of estimation deals with how best to use the information (combine the values x1…, xn) to obtain a single number, estimate, for θ, say ##INLINE-EQUATION##. Interval estimation does not reduce the available information to a single number and is a special case of hypothesis testing. This article deals only with point estimation.
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