point estimation

noun Statistics.
the process of determining a single estimated value (point estimate) of a parameter of a given population.


Origin:
1960–65

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Encyclopedia Britannica
Encyclopedia

point estimation

in statistics, the process of finding an approximate value of some parameter-such as the mean (average)-of a population from random samples of the population. The accuracy of any particular approximation is not known precisely, though probabilistic statements concerning the accuracy of such numbers as found over many experiments can be constructed. For a contrasting estimation method, see interval estimation.

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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Example sentences
For all stocks, reference point estimation is now compatible with stock monitoring methods.
If a single figure is calculated for each unknown parameter, the process is called point estimation.
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