Estimation

Estimating population parameters from sample parameters is one of the major applications of inferential statistics.

Here, we present how to calculate the minimum sample size needed to estimate a population mean ($\mu$) and population proportion ($p$).

Point estimation involves the use of sample data to calculate a single value which serves as the "best estimate" of an unknown population parameter.

Interval estimation is the use of sample data to calculate an interval of possible (or probable) values of an unknown population parameter.

In order to estimate a population proportion of some attribute, it is helpful to rely on the proportions observed within a sample of the population.