This blog post discusses the single value APPROXIMATE_PARAMETER, which is a single value that approximates a population parameter. The article will discuss how to calculate an estimate and what you should consider when choosing this type of approximation. The Single Value APPROXIMATE_PARAMETER is a single value that approximates a population parameter. You can calculate an estimate by using one or more of the following formulas: , or . The article will discuss how to choose this type of approximation and what you should consider when choosing it. In general, there are two main types of estimators—point estimates and interval estimates: point estimation results in only one number while interval estimation provides us with data on the range our estimate could be within such as 90% confidence intervals which provide an upper limit (mean ±0.65*standard deviation) and lower limit (mean – 0.25 * standard deviation). Point estimators may yield values outside of this range, but the probability of them doing so becomes smaller with a higher number of samples. The Single Value APPROXIMATE_PARAMETER is a single value that approximates a population parameter which you can calculate an estimate by using one or more of the following formulas: , or . The article will discuss how to choose this type of approximation and what you should consider when choosing it. In general, there are two main types of estimators—point estimates and interval estimates: point estimation results in only one number while interval estimation provides us with data on the range our estimate could be within such as 90% confidence intervals which provide an upper limit (mean ±0.65*standard deviation) and lower limit