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Parameter estimate

A parameter estimate is either a point or interval estimate of the unknown population correlation coefficient.

A point estimate is a single value that is the best estimate of the true unknown population correlation coefficient; a confidence interval is a range of values and indicates the uncertainty of the estimate.

Related concepts
Point and interval estimation
Related tasks
Estimating the correlation/association
Related reference
Estimators for correlation and association
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Version 6.15
Published 18-Apr-2023
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