Pistemääräestimointi

Pistemääräestimointi is a Finnish term that translates to "score estimation" or "point estimation" in English. It refers to the process of determining a single value that best represents an unknown population parameter based on sample data. This single value is known as a point estimate.

The goal of point estimation is to provide a concise and easily interpretable summary of the information available from a sample regarding a population characteristic. For instance, if we want to estimate the average height of adult males in a country, we might take a sample of men, measure their heights, and calculate the sample mean. This sample mean would then serve as the point estimate for the true population mean height.

Common examples of point estimators include the sample mean, sample proportion, and sample variance, which are used to estimate the population mean, population proportion, and population variance, respectively. The choice of an appropriate point estimator depends on the nature of the parameter being estimated and the assumptions made about the population distribution.

While point estimates are useful for providing a single best guess, they do not convey any information about the uncertainty associated with the estimate. Therefore, point estimation is often used in conjunction with interval estimation, which provides a range of plausible values for the population parameter.