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Estimation is best defined as: a. both a process of inferring the values of unknown samples statistics from those of known population parameters and any procedure that views the parameter being estimated not as a constant, but, just like the estimator, as a random variable b. a sampling procedure that matches each unit from population A with a "twin" from population B so that any sample observation about a unit in population A automatically yields an associated observation about a unit in population B c. any procedure that views the parameter being estimated not as a constant, but, just like the estimator, as a random variable d. a process of inferring the values of unknown samples statistics from those of known population parameters e. a process of inferring the values of unknown population parameters from those of known sample statistics

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Answer:

Option D is the correct answer - Estimation is best defined as   a process of inferring the values of unknown samples statistics from those of known population parameters

Step-by-step explanation:

Estimation involves the usage of the value of a statistic derived from a sample to estimate the value of a corresponding population parameter.

The sample provides information that can be extended, through several formal or informal processes, to determine a range most suitable to describe the missing information.

An estimate that turns out to be incorrect would either be termed as over-estimation or under-estimation. If the estimate exceeds the actual result, it is termed as an over-estimation, and as an under-estimation, if the estimate came short of the actual result.

Thus, option D is correct.

The best definition of estimation will be E. process of inferring the values of unknown population parameters from those of known sample statistics.

  • It should be noted that estimation doesn't automatically yield an associated observation about a unit in population.

  • Rather, estimation is the process of inferring the values of unknown population parameters from those of known sample statistics.

In conclusion, the best option is E.

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