method of moments

an alternative to maximum likelihood estimation in which values describing basic characteristics of a sample (known as moments) are used to approximate the corresponding values for the larger population. For example, a researcher could use the method of moments to estimate the mean or variance for a population by inserting the appropriate sample value into an equation that calculates one from the other. Although simpler than maximum likelihood, the method of moments is less accurate.

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Psychology term of the day

November 24th 2024

rights of patients

see patients’ rights.