Difference between Estimate and Estimator ?
It is a Random Variable. So its value depends on the outcome of some experiment, and it has a statistical distribution.
It's value is Constant. It is the value taken by an estimator, given a particular set of sample data.
- One ESTIMATE will never give you multiple ESTIMATORS but one ESTIMATOR will give you multiple ESTIMATES.
- ESTIMATOR can be a good or bad, but ESTIMATE can never be good or bad.