Parameter Estimation and Evaluation Introduction Introduction Machine learning,which arises due to availability of Big data,shares some common grounds as statistical inference,particularly in terms of sampling inference for population.Like any statistical inference methods,machine learning may suffer from sample bias. As an algorithm-based approach,Machine learning is much more general and flexible than statistical parametric modelling,including the determination of the set of important explanatory variables. ● Statistical nonparametric modelling can provide meaningful interpretations for some important machine learning algorithms,such as decision trees and artificial neural networks. The synthesis of machine learning and statistical inference is expected to open several new directions for statistical sciences. Big Data,Machine Learning and Statistics Introduction to Statistics and Econometrics July8,2020 6/70Parameter Estimation and Evaluation Big Data, Machine Learning and Statistics Introduction to Statistics and Econometrics July 8, 2020 6/70 Introduction Introduction