Commentary, Res J Econ Vol: 5 Issue: 4

Estimation Theory

Maciej Koz�?owski

Department of Economics, University of Albert, Canada

Keywords: Accounting and Finance, Accounting Review, Avenues of Investment, Banking Research, Economic expansion

Introduction

Estimation concept is a branch of statistics that deals with estimating the values of parameters based totally on measured empirical statistics that has a random component. In information the amount to be predicted is one of the parameters of the opportunity version, or some quantity whose price relies upon on the parameters. The to be had information consists of the discovered values of the random variables and certain regarded aspects of the test. "Parameter estimation" redirects right here. It is not to be careworn with point estimation or c program language period estimation. For different uses, see Estimation (disambiguation). Estimation principle is a branch of records that deals with estimating the values of parameters primarily based on measured empirical data that has a random aspect. The parameters describe an underlying bodily placing in the sort of way that their cost influences the distribution of the measured information. An estimator attempts to approximate the unknown parameters the use of the measurements. In estimation principle, two approaches are typically taken into consideration.