Abstract
The chapter considers the critical distinction of sample and population, and it covers the interplay of sampling on the one hand and parameter estimation on the other hand. We explore the relationship between sample statistics and hypothetical population parameters based on a simulation. Finally, we describe criteria that an estimator must fulfill to be a ”good estimator”.
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Notes
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Other measures of central tendency could also be used in theory, such as the mode or the median. However, as we will see later, it is mainly the arithmetic mean that meets common quality criteria (see Sect. 3.3).
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Remember that this is an unrealistic situation in most cases: If we actually knew the population parameters, we would no longer need parameter estimation or inferential statistics. We could then rely on descriptive statistics alone to arrive at perfectly correct statements about the population.
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Because there is only a finite number of possible means in this example (i.e., the set Ω′ is finitely large), \(\boldsymbol {\bar {X}}\) is a discrete random variable.
References
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Janczyk, M., Pfister, R. (2023). Introduction to Inferential Statistics 2: Population and Parameter Estimation. In: Understanding Inferential Statistics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-66786-6_3
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DOI: https://doi.org/10.1007/978-3-662-66786-6_3
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