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point estimate

   Also found in: Acronyms, Encyclopedia 0.03 sec.
point estimate
n
(Mathematics & Measurements / Statistics) Statistics a specific value assigned to a parameter of a population on the basis of sampling statistics Compare interval estimate


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It tells you not only what your point estimate should be but also the likelihood of other types of outcomes occurring.
Nonetheless, the point estimates and their probabilities can be a reasonably good approximation of what is known as a continuous probability distribution, especially if there are enough of them.
The interviewers asked participants to offer either a point estimate or a range of risk that they felt they would bear from transporting nuclear-waste along the proposed route.
 
 
 
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