Statistical estimation is a branch of statistics that involves the process of estimating unknown parameters in a statistical model based on observed data. The goal of statistical estimation is to make inferences about the population from which the sample was drawn. Estimation methods include point estimation, where a single value is provided as an estimate of the parameter, and interval estimation, where a range of values is provided as an estimate. Common estimation techniques include maximum likelihood estimation, method of moments, and Bayesian estimation. These methods are used in a wide range of fields, including economics, psychology, biology, and social sciences.