Point Estimation

After a sample has been selected from the population, a procedure known as point estimation can be performed. Point estimation if the process of computing what's known as a sample statistic from the sample. Sample statistics are estimated of their corresponding population parameters. For example, the sample mean is a point estimate of the population mean, the sample standard deviation is a point estimate of the population standard deviation, and so on. So the sample statistics are known as "point estimators" of their corresponding population parameters. The term "point" is used here because they provide single-value estimate, as opposed to interval estimate. The numerical values of the sample statistics are then known as "point estimates."

[marwinquilang]

Your explanation is better than the 90% professors in our university

[reamabdulsalam]

I like your explanation really very helpful and you have gone through each part really very smoothly I don’t like statistics because just few people explain it deeply and step by step please do give some more examples