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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.
Estimation is purely statistical and hence complicated. Difficulty in understanding the logic is pretty normal for the students. With our Estimation of the parameters ß0 and ß1 Homework help, you can complete your homework on time along with a better understanding of the topic.
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