Hello allstat-followers,

 

Can somebody explain the difference between calibration and estimation in easy terms and/or with easy examples?

 

It seems that calibration has to do with finding the correct model whereas estimation has to do with finding values for the parameters of that model, is that correct?

But I do not understand how you can find the correct model without estimating the models that are under investigation and as such calibration again coincides with estimation?

 

Thanks for helping me out!

Martina Vandebroek