What is the Statistical Estimation theory, Estimate vs Estimator,Biased vs Unbiased.

⏺️What is the Statistical estimation theory?
⏩the Statistical estimation theory is a branch of statistics that predicts or estimates a population parameter based on available data.
⏩It involves estimating the values of parameters based on measured empirical data that has a random component.
⏩Statistical estimation theory is a branch of statistics that predicts or estimates a population parameter based on available data.
⏩It involves estimating the values of parameters based on measured empirical data that has a random component.
⏩Estimation is a part of inferential statistics.
⏩It uses a much smaller sample to derive a population parameter.
🌅There are two types of estimates:🌅
⏺️Point estimates: A discrete value chosen from a sample to estimate a population parameter
⏺️Interval estimates: A range of values within which the population parameter lies
⏩Estimation theory is an important mathematical concept used in many communication and signal processing applications.
⏩It is used in a range of applications from radar to speech processing

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