Best Point Estimation Calculator

Here is the simple online best point estimation calculator to find the best guess along with the Laplace, Jeffrey, Wilson, Maximum Likelihood Estimation. Just enter the values for the number of success, a number of trials and confidence interval to find the estimation.

Laplace, Jeffrey, Wilson, Maximum Likelihood Estimator

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Here is the simple online best point estimation calculator to find the best guess along with the Laplace, Jeffrey, Wilson, Maximum Likelihood Estimation. Just enter the values for the number of success, a number of trials and confidence interval to find the estimation.

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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 Estimate: Usually, the best point estimates or best guess are used in real time statistics such as population estimation of a city. The best guess is also used to reduce error and increase accuracy.

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.

Best Guess Estimation Calculation: Feel free to use this online best point estimation calculator to calculate the point estimation which involves the utilization of sample data to determine a single value which is to serve as a 'best guess' or 'best estimate' of an unknown population parameter. There are a lot of point estimators with different properties.

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