what is the difference between estimate and estimator?
In the Practice exam I did not understand the last question. what is the difference between estimate and estimator? Can you help me with that please. The answer says the Number is the estimator.....thanks
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estimator is the rule we use to calculate a specific data base and the estimate is the result
The formula we apply to determine the population number is represented by an estimator, but the numeric value is represented by an estimate. The mean symbol x bar, for example, is an estimator that equals the sample mean rule, but the value like: 20, is an estimate.