CONSTRUCTION ESTIMATORS

In statistics, an estimator is a rule for calculating an estimate of a given quantity based on observed data: thus the rule (the estimator), the quantity of interest (the estimand) and its result (the estimate) are distinguished. For example, the sample mean is a commonly used estimator of the population mean.An estimator in statistics is a rule or a formula that helps us to estimate the value of an unknown parameter in a population using sample data. Estimators are fundamental to the field of inferential statistics, where we use information from a sample to make inferences about a larger population.