Statistical estimation theory

Statistical estimation theory involves using data samples to make educated guesses about a larger population's characteristics, such as averages or trends. Since collecting data from everyone is often impractical, estimators help infer these true values. The goal is to find methods that provide accurate, reliable estimates while understanding and minimizing possible errors or uncertainties. This theory guides how we draw meaningful conclusions from limited information, ensuring our inferences are as close to reality as possible within the constraints of available data.