Stein

Stein is a statistical method used to improve the estimation of multiple parameters simultaneously. Instead of estimating each parameter individually, Stein’s technique “shrinks” some estimates towards a central value, reducing overall error. This often results in more accurate, stable estimates, especially when dealing with many parameters or limited data. Think of it as adjusting individual predictions slightly closer to a group average to achieve better overall accuracy. Stein’s method is valuable in fields like signal processing, finance, or medical research, where precise estimation across many variables is essential.