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This lecture delves into the challenges of inferring epidemiological parameters from clinical data, focusing on COVID-19. The instructor discusses the complexities of estimating parameters like the infection fatality ratio and case fatality ratio, using data from China and the Diamond Princess cruise ship. Various biases, such as ascertainment bias, are explored, along with strategies to correct them. The lecture presents a detailed analysis of age-specific infection fatality ratios and the impact of assumptions on parameter estimates. The speaker also highlights the importance of controlled randomized studies for accurate epidemiological inference.