Parameter Estimation and Evaluation Empirical Studies and Statistical Inference Empirical Studies and Statistical Inference Commonly used examples of standard models include: -classical linear regression models; -probit or logit models in discrete choices; Cox's (1960)proportional hazard models in survival or duration analysis. The important inputs,the recorded data,are often observa- tional in nature,namely they are not produced from controlled experiments.This is usually the case in social sciences and eco- nomics.Observed data typically have moderate sample sizes. Big Data,Machine Learning and Statistics Introduction to Statistics and Econometrics Juy8,2020 10/70Parameter Estimation and Evaluation Big Data, Machine Learning and Statistics Introduction to Statistics and Econometrics July 8, 2020 10/70 Empirical Studies and Statistical Inference Empirical Studies and Statistical Inference