AI engineering glossary · Statistics inference
What is point estimate?
Point estimate: A single number offered as the best guess of an unknown population value, produced by applying an estimator to observed data. It carries no information about how uncertain it is unless paired with an interval or standard error.
Point estimate: an example
A trial gives an average conversion of 4.2 percent, so 4.2 percent is the point estimate of the true rate.
Related terms
More Statistics inference terms
- Population parameter
- Post-hoc test
- Posterior distribution
- Potential outcomes framework
- Power analysis
- Practical significance
- Prior distribution
- Propensity score
Where you learn it
Point estimate is part of the AI Engineering Program, which teaches it with notes, a hands-on lab and an exam. The first lesson is free.