MLE

It’s routine practice in statistics to apply a statistical model to some process. Often (I’d even say, usually) the model depends on a certain number of parameters. Sooner or later, we’d like to know what the parameters are (or at least be able to estimate them). One of the most powerful methods in statistics for estimating the parameters of a model from a given set of data is called “MLE” for “Maximum Likelihood Estimation.”

Advertisements