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Glossary › estimating

GLOSSARY

estimating

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Definition

Inferring a quantity you cannot measure directly from the observations you can. Because the output is an estimate rather than the true value, the convention is to report uncertainty alongside it — confidence intervals, error bars, or a stated failure probability — and a point estimate with no such qualifier should be read sceptically. The technical concerns are bias and variance: whether the estimator is systematically off, and how much it moves between samples.

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