Optimal estimation
Okay kiddo, so when we talk about optimal estimation, we're talking about a way to figure out the best possible prediction or guess for something. It's like when you take a test and you try to get the most accurate answer possible.
Now, when we're trying to make a prediction, we usually have some information to start with. We call this information our "observations". For example, if we're trying to figure out what the weather will be like tomorrow, we might look at the temperature, the wind speed, and whether it's cloudy or sunny outside.
Once we have these observations, we use a special formula to calculate our prediction. This formula takes into account the observations we have and how accurate they are. It also takes into account our "prior knowledge", which is what we know about the thing we're trying to predict based on past experience.
By combining these two things - our observations and our prior knowledge - we can make the most accurate prediction possible. This is called "optimal estimation".
So, in summary, optimal estimation is a way to figure out the best possible prediction or guess for something. We use observations and prior knowledge to make this prediction as accurate as possible.
Now, when we're trying to make a prediction, we usually have some information to start with. We call this information our "observations". For example, if we're trying to figure out what the weather will be like tomorrow, we might look at the temperature, the wind speed, and whether it's cloudy or sunny outside.
Once we have these observations, we use a special formula to calculate our prediction. This formula takes into account the observations we have and how accurate they are. It also takes into account our "prior knowledge", which is what we know about the thing we're trying to predict based on past experience.
By combining these two things - our observations and our prior knowledge - we can make the most accurate prediction possible. This is called "optimal estimation".
So, in summary, optimal estimation is a way to figure out the best possible prediction or guess for something. We use observations and prior knowledge to make this prediction as accurate as possible.