What does parameter of interest mean in statistics?

Answer by Daeyoung Lim:

Parameters are the unknown numbers that describe the population.

Because we do not know the parameters, we come up with appropriate estimators to carry out significance tests or construct confidence intervals.

An estimator is the function of the random variables [math]X_1, X_2, \ldots, X_n[/math]. So mathematically, it's expressed like this: [math]g(X_1, X_2, \ldots, X_n)[/math] where g is a function. For example, a sample mean, [math]\frac{\sum_{i=1}^{n} X_i}{n}[/math] is also an estimator for the population mean [math]\mu[/math]. The same explanation applies for sample variance and the population variance.

The parameter of interest is the parameter you want to test with an estimator.

What does parameter of interest mean in statistics?

Advertisements

Leave a comment

Filed under Life

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s