Introduction to Estimation Methods
The general aim of statistics is to infer something about the source that gave rise to given data. An ultimate aim is to find exact numerical values for the source. There is a large body of literature on this subject, called estimation theory. Estimation is both an art and a science — typical of most subjects in statistics. Hence, there are passionate devotees of one approach or another, to a given problem, especially economic problems. Personally, we like the following motivation for the subject: If Adam and Eve were expelled from Paradise for attempting to Know, then the least we can do, having lost our chance at earthly Paradise, is to find out just how well we can Know.
KeywordsCost Function Point Spread Function Fisher Information Random Parameter Likelihood Equation
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