Estimation of Population Parameters

This chapter focuses on the development of methods for finding point and interval estimators of population parameters. It examines two kinds of estimators for population parameters, namely point estimators and interval estimators. There are various properties of a good point estimator that are often met, such as unbi-asedness, minimum variance, efficient, consistent, and sufficient. The chapter discusses two commonly used methods for finding point estimators: the method of moments and the method of maximum likelihood. The confidence intervals for the population standard deviation are found by taking the square root of the corresponding limits. A general method to determine a confidence interval for an unknown parameter makes use of the so called pivotal quantity. One can construct the one-sided upper/lower confidence interval by entering in the options dialog box 95% in the box next to Confidence coefficient and selecting less than/greater than under the alternative option.