Blue estimator

The Blue estimator, short for Best Linear Unbiased Estimator, is a statistical method used to estimate unknown parameters in a way that is both accurate and efficient. The term "best" refers to its ability to minimize variance among all linear estimators, meaning it provides the closest estimates to the true value. "Linear" indicates that it applies a linear combination of observed data, while "unbiased" means it doesn’t systematically overestimate or underestimate the parameter. Essentially, it strives to provide the most reliable estimate possible based on the information available.