Point Estimation
The process of finding an approximate value of some parameter—such as the mean (average)—of a population from random samples of the population.
It is the value of statistic that estimates the value of a parameter.
The sample standard deviation (s) is a point estimate of the population standard deviation (σ).
The sample mean (̄x) is a point estimate of the population mean, μ.
The sample variance (s2) is a point estimate of the population variance (σ2).
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Parameter estimation is the process of computing a model’s parameter values from measured data. You can apply parameter estimation to different types of mathematical models, including statistical models, parametric dynamic models, and data-based Simulink® models
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