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**What is estimation of parameters?**

Estimation Theory is a group of statistical data that deals with estimation of the values of different parameters based on measured or empirical data that has any non-specific component. The parameters fetch an estimated physical setting in such a way that their nominal value affects the distribution of the data to be measured. A disambiguate attempts to make an approximation of the unknown parameters using measurements.

As for an example, it is expected to estimate the proportion of a population of voters who wish vote for a particular candidate. The parameters based for estimation depend on such proportion; the estimate is calculated on a small sample of voters.

**Estimation of the parameters ß0 and ß1**

Estimating the following parameters and variables,

If the dependant variable or response =Y, and

The independent variable or auxiliary =X and

The parameters are ß0 and ß1, then

The dependant variable will become linear with the parameters.

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