Point Estimate Formula

The following equation is used to calculate the point estimate using the Wilson Estimation.

point estimate formula


Point Estimate Definition

A point estimate is a term used to describe the estimate of a parameter applied to a specific population. In other words, it’s a single value that is used to estimate the specific population parameter.


Example

The following is an example of calculating the point estimate.

  1. First, determine the total number of successes or total number of positives to the specific parameter. We will say this is 10 for this example.
  2. Next, determine the total number of trials, or total sample size. For this example we will say this is 100.
  3. Next, determine the confidence interval of the set of data. We will say this is a 97% confidence.
  4. Finally, calculate the point estimate using the formula. We find the point estimate to be .1 .

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