ABSTRACT
Superficially, point estimation may seem a simpler problem to discuss than that of interval estimation; in fact, however, any replace ment of an uncertain quantity by a single value is bound to involve either some rather arbitrary choice or a precise specification of the purpose for which the single quantity is required. Note that in inter val estimation we explicitly recognize that the conclusion is uncertain, whereas in point estimation, as it is conceived here, no explicit recognition of uncertainty is involved in the final answer.
