Displaying statistical point estimators: the leading-digit procedure

Authors:
Wheyming T. Song;Bruce W. Schmeiser
Affiliations:
National Tsing Hua University, Hsinchu, Taiwan, Republic of China;Purdue University, West Lafayette, IN
Venue:
Proceedings of the 40th Conference on Winter Simulation
Year:
2008

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Abstract

We propose a procedure for reporting a statistical point estimator and its precision for statistical experiments such as simulation experiments. Based on three criteria---loss of statistical information, number of characters required, and likelihood of user misinterpretation---we advocate our procedure for use when reporting many point estimators in tabular form. The procedure discards meaningless digits of the point estimator, and all but the left-most non-zero digit of the standard error. These two resulting values are separated by the ";" sign.