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- Methods of estimation in statistics include12:
- Point estimation: Determining a single value (point) to estimate the population parameter.
- Interval estimation: Providing a range (interval) within which the population parameter is likely to fall.
- Maximum likelihood estimators: Estimating parameters by maximizing the likelihood function.
- Method of moments estimators: Using sample moments to estimate population parameters.
- Least squares: Minimizing the sum of squared differences between observed and estimated values.
- Bayes estimators: Incorporating prior knowledge to estimate parameters.
- Maximum a posteriori (MAP): Combining prior information and likelihood to estimate parameters.
- Minimum variance unbiased estimator (MVUE): Finding unbiased estimators with minimum variance.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Estimation represents ways or a process of learning and determining the population parameter based on the model fitted to the data. Point estimation and interval estimation, and hypothesis testing are three main ways of learning about the population parameter from the sample statistic.online.stat.psu.edu/stat504/lesson/statistical-infere…Commonly used estimators (estimation methods) and topics related to them include:
- Maximum likelihood estimators
- Bayes estimators
- Method of moments estimators
- Cramér–Rao bound
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