Chapter 6 Sampling Distributions: How Good are the Numbers?

Caution: in a highly developmental stage! See Section 1.1.

Concepts:

  • What is an estimator?
  • Sampling distributions
  • Reducible error

6.1 Estimation of Probabilistic Quantities

What makes a formula an estimator? It should go to the actual value as the sample size increases.

It’s important to note that there are many ways to estimate a probabilistic quantity. Some of these will be better than others, often depending on the situation. Typically, the bias-variance tradeoff is at play here, where some estimators sacrifice bias to reduce variance, or vice versa.

CI vs. PI