Minimum Variance Estimation

Minimum Variance Estimation is a statistical technique aimed at reducing uncertainty in predictions or estimates. It focuses on finding the best possible estimate that has the smallest variability, meaning it produces results that are consistently close to the true value. This approach is useful in various fields, such as finance and engineering, to enhance decision-making by minimizing errors. Essentially, it helps us make more reliable estimates by considering all available data and adjusting for any uncertainties, ensuring that our predictions are as stable and accurate as possible.