What is the difference between an estimate and an estimator? Explain a

Question

What is the difference between an estimate and an estimator? Explain all the properties of an estimator with reference to BLUE.

04 Aug 2023

Answer :

Word Count : 466

Difference Between Estimate and Estimator:

An estimate is a single value or quantity that is calculated from a sample and is used to approximate an unknown population parameter. It is a specific numerical value obtained from the data, and its purpose is to provide an educated guess or prediction about the parameter.

An estimator, on the other hand, is a statistical function or formula that is used to calculate an estimate. It is a rule or a method for calculating estimates based on observed data. Estimators are applied to the sample data to compute estimates of population parameters.

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