Given the data set is the Bayesian estimation the best solution for solving the expected value?

44 Views Asked by At

I am very new to this. I have several measurements that from which I need to estimate a truth value. Each of them comes with an estimated error. I know that the observation error are biased (I don't know the expected observation error). I want to find the expected value of this parameter. What is the best technique for calculate the best estimate? MLE will require the knowledge of the expected observation error. Is Bayesian estimation is the better one to use? If so, how should I approach it?