Parameter estimation is a statistical method used to estimate the parameters of a model based on observed data. It is a crucial step in many fields of research, such as engineering, economics, and biology, where models are used to describe and predict real-world phenomena. In parameter estimation, researchers use mathematical techniques to analyze data and determine the most likely values for the parameters of a given model. This process often involves fitting the model to the data, testing different parameter values, and selecting the values that best describe the observed data. Parameter estimation plays a fundamental role in various scientific disciplines, providing researchers with valuable insights into the underlying processes and relationships within complex systems. It allows researchers to make informed decisions, predictions, and interpretations based on empirical data, ultimately advancing knowledge and understanding in their respective fields.