# Estimated Value

An Estimated Value is a numeric value produced by an estimator for an estimand.

**Context:**- It can range from being a Point Estimate to being an Interval Estimate.
- It can be associated to an Estimation Error.

**Example(s):**- "The estimated value for the average male in the person database is 68 inches”.
- an Expected Value.

**Counter-Example(s):**- a Nominal Predicted Value, such as a Classification Value.
- an Ordinal Prediction Value.

**See:**Random Variable.

## References

### 2016

### 2009

- (Wikipedia, 2009) ⇒ http://en.wikipedia.org/wiki/Estimation
- Estimation is the calculated approximation of a result which is usable even if input data may be incomplete or uncertain.
- In statistics, see estimation theory, estimator.
- In mathematics, approximation or estimation typically means finding upper or lower bounds of a quantity that cannot readily be computed precisely and is also an educated guess . While initial results may be unusably uncertain, recursive input from output, can purify results to be approximately accurate, certain, complete and noise-free.

### 1987

- (Hogg & Ledolter, 1987)
- QUOTE: In general, an estimator is a random variable and an estimate is an observation of that random variable.