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Statistics II :- Chapter 6, Part 1: Estimation of parameter (Point Estimation )
Statistics II | Chapter 6, Part 1: Point Estimation we use a single value (a statistic) calculated from a sample to estimate an unknown population parameter. For example, if we want to know the average income in a city but can't ask everyone, we take a sample and use that average as our "best guess."1. Basic Definitions Parameter: A numerical ...
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