Pisteestimoinnissa

Pisteestimoinnissa, a Finnish term, translates to "point estimation" in English and refers to a single value used to estimate an unknown population parameter. This single value is derived from sample data and serves as the best guess for the true population value. Common examples of point estimators include the sample mean ($\bar{x}$) as an estimate for the population mean ($\mu$), and the sample proportion ($\hat{p}$) as an estimate for the population proportion ($p$).

The goal of point estimation is to find a statistic that is a good estimator of the parameter. A good point estimator is typically unbiased, meaning that its expected value equals the population parameter. It should also be efficient, meaning it has the smallest possible variance among all unbiased estimators. While point estimation provides a single, easily interpretable value, it does not convey the uncertainty associated with the estimate. Therefore, it is often complemented by interval estimation, which provides a range of plausible values for the parameter. The choice of a point estimator depends on the nature of the parameter being estimated and the data available. Various methods exist for deriving point estimators, such as the method of moments and maximum likelihood estimation.