10INTRODUCTION TO AVERAGING AND PARAMETER ESTIMATION
This chapter introduces you to parameter estimation, an essential part of statistical inference where we use our data to guess the value of an unknown variable. For example, we might want to estimate the probability of a visitor on a web page making a purchase, the number of jelly beans in a jar at a carnival, or the location and momentum of a particle. In all of these cases, we have an unknown value we want to estimate, and we can use information we have observed to make a guess. We refer to these unknown values as parameters, and the process of making the best guess about these parameters ...
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