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description![]](/static/images/flourish.gif)
First sentence: In the standard framework of parameter estimation one starts with the data (x1, .... xn) which are observations on the characteristic X of n individual items and the data is regarded as a realization of random variables (r.v.) (X1, ..., Xn) which are assumed to be independent identically distributed (i.i.d.) as X the r.v. whose probability law describes stochastic behaviour of the character X in the population.
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