Parametric Estimation

Presented by:
Tanveer ul Islam
MS PE-012-2018
Presented to:
Dr. Muhammad Zaman
Semester Project:
Parametric estimation of:
1. Vapor Pressure
2. Liquid Holdup
3. Cubic Equation of State
4. PC-Saft Equation of State(for pure components only)
Parametric Estimation:
Process of using sample data (in reliability engineering, usually times-to-
failure or success data) to estimate the parameters of the selected
distribution.
Parameter Estimation Methods:
Parametric Estimation is done through various methods as follows:
 Rank regression:
A method of finding parameter values that minimizes the sum of
the squares of the residuals.

 Probability plotting:
A method of finding parameter values where the data is plotted
on special plotting paper and parameters are derived from the
visual plot
Continued…
 Maximum Likelihood Estimation:
A method of finding parameter values that, given a set of
observations, will maximize the likelihood function.

 Bayesian Estimation Methods:

In practice, what this means is that existing knowledge about a
situation is formulated, data is gathered, and then posterior
knowledge is used to update our beliefs.
Software: