Error estimation, parameter estimation

1. What is estimation estimation of parameters?
2. What is error of estimation?
3. What are the two types of parameter estimation?
4. What are two main sources of error when estimating parameters?

What is estimation estimation of parameters?

Parameter estimation is the process of computing a model's parameter values from measured data. You can apply parameter estimation to different types of mathematical models, including statistical models, parametric dynamic models, and data-based Simulink^® models.

What is error of estimation?

The difference between an estimated value and the true value of a parameter or, sometimes, of a value to be predicted.

What are the two types of parameter estimation?

There are two types of estimates for each population parameter: the point estimate and confidence interval (CI) estimate. For both continuous variables (e.g., population mean) and dichotomous variables (e.g., population proportion) one first computes the point estimate from a sample.

What are two main sources of error when estimating parameters?

The method of analysis is applicable to procedures utilizing minimization of squared output error and a nonlinear dynamic system model. Three major sources of estimation error are described: 1) measurement error, 2) modeling error, and 3) optimization error.