This is personal study note Copyright and original reference: https://www.youtube.com/watch?v=sGQcDXzxsXo&list=PLsri7w6p16vulKaxOlNQFSWuyDuE9oEVP&index=2&t=0s ================================================================================ "Point estimation" and "interval estimation" ================================================================================ "estimate" and "estimator" estimate: statistical value estimator: tool or function for statistical value ================================================================================ Conditions for good point estimation ================================================================================ Why you use "interval estimation", "confidence interval" - min value < estimated parameter < max value - Above range is correct by 95% chance ================================================================================ Standard normal distribution for confidence intervale ================================================================================ Interval estimation example ================================================================================ Estimate mean of population by using interval estimation condition: 90% of confidence value ================================================================================ Estimate mean of population by using interval estimation condition: 95% of confidence value ================================================================================ Estimate mean of population by using interval estimation condition: 99% of confidence value ================================================================================ Confidence value 100%