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South Dakota School of Mines & Technology Estimation Industrial Engineering
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Estimation Point Estimates Industrial Engineering
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Overview Point versus interval estimates
Estimators of a population mean Estimators of a population proportion Estimators of a population variance Estimating other parameters Method of Moments Maximum Likelihood Estimates
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Statistics Descriptive Statistics
is used to summarize a collection of data in a clear and understandable way. Ex: Histograms, box plots, stem and leaf plots. Inferential Statistics are used to draw inferences about a population from a sample. Ex: 10 subjects perform a task after 3 hours of training. They score 12 points higher than 10 subjects who perform the same task with no training. Is the difference real or could it be due to chance?
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Point Estimators Suppose we have a new type of light bulb and we wish to test the bulbs for mean time to burn out.
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Point Estimators We select 10 bulbs at random and test to burn out.
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Point Estimators å = n i x X 1 10 1462 . 1483 1569 + = = 1,596.2
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Point Estimators X 10 1571 . 1567 1739 + = = 1,603.0
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