Parameter Estimation and Evaluation Introduction Introduction What is Big data? Has Big data altered the foundation of statistical sciences,such as sampling inference for population,causal analysis,sufficiency principle,data reduction, prediction,and etc? What challenges and opportunities does Big data bring to the theory and practice of statistical modelling and inference? What is machine learning? What are the key differences between machine learning and statistical mod- elling? What is the relationship between machine learning and statistical inference? As is well-known,machine learning often has accurate out-of-sample pre- dictions,but it looks like a black box.Can statistics provide meaningful interpretations for machine learning methods? Can machine learning and statistics be synthesized together,and if so,how this will affect the future development of statistical sciences? Big Data,Machine Learning and Statistics Introduction to Statistics and Econometrics July8,2020 4170Parameter Estimation and Evaluation Big Data, Machine Learning and Statistics Introduction to Statistics and Econometrics July 8, 2020 4/70 Introduction Introduction