Parameter Estimation and Evaluation Population and Distribution Model Population and Distribution Model Correct Model Specification:Assume that the class of functions F contains the population distribution fx(x) that generates the observed data.That is,there exists some unkonwn parameter value 00∈曰such that fx(c)=f(x,0o）for all a∈2. If F contains fx(),we call that the class of models F is correctly specified for the population distribution fx(), and 00 is called the true value of 0. Parameter Estimation and Evaluation Introduction to Statistics and Econometrics April 21,2020 5/207Parameter Estimation and Evaluation Parameter Estimation and Evaluation Introduction to Statistics and Econometrics April 21, 2020 5/207 Population and Distribution Model Population and Distribution Model