Best Point Estimation Calculator

Usually, the best point estimates are used in real time statistics such as population estimation of a city. The best point estimation is also used to reduce error and increase accuracy. Here is the simple online Best Point Estimation Calculator to find the best point estimate of unknown parameters using the Laplace, Jeffrey, Wilson, Maximum Likelihood Estimator. Enter the values for Number of Success, Number of Trials and Confidence Interval to find the estimation.

Laplace, Jeffrey, Wilson, Maximum Likelihood Estimator

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Formula:

MLE = S / T Laplace = (S+1) / (T+2) Jeffrey = (S+0.5) / (T+1) Wilson = (S+(z2/2)) / (T+z2) Where, MLE = Maximum Likelihood Estimation S = Number of Success T = Number of Trials z = Z-Critical Value Find Z-Critical Value from Z table Best Point Estimation Rules : 1. MLE<=0.5 -- > Wilson Estimator 2. Between MLE>0.5 and MLE<0.9 -- > MLE 3. MLE>0.9 -- > either Laplace or Jeffrey Estimator based on which is small.

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