Nuisance parameter

Nuisance parameter,

Definition of Nuisance parameter:

  1. A parameter that must be accounted for in market analyses and other statistical operations, but that is not relevant or meaningful to the goal of the analyses. Nuisance parameters can interfere with the analysis of parameters of interest, but may also become parameters of interest themselves if they become the focus of the analysis.

Meaning of Nuisance parameter & Nuisance parameter Definition