# Point Estimation

### Description

A-Levels Further Mathematics Flowchart on Point Estimation, created by Alex Burden on 02/04/2017.
Flowchart by Alex Burden, updated more than 1 year ago
 Created by Alex Burden about 7 years ago
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## Resource summary

### Flowchart nodes

• Point Estimation
• Estimatior - any statistic to estimate a characteristic of a population
• Unbiased estimator is denoted by: E(T)=α
• The most efficient and best estimator for α, is the estimator that:is unbiasedhas the smallest variance
• Most Efficient of Population Mean
• Unbiased Estimator:
• Most Efficient of Population Variance
• Best unbiased estimator of population variance: σ̂^2S^2 = variance of the sample
• Can also be noted as
• Best Unbiased Estimator of a Probability/Proportion
• X~Bin(n,α)unbiased estimator:          Estimated Standard Error:                           p̂=Ps where Ps = sample proportion
• Distribution of the Sample Proportion
• For both np>5 and nq>5 a continuity correction needs to be used.If n>30, by C.L.T. :-                      Continuity correction for                  is:             if using equation above

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