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In wireless communication, Ricean K factor which is the relative strength of the direct and scattered components of the received signal, is an important reflection of channel quality parameters. Therefore, the estimate of Ricean factor is great significance. Based on the introduction of the estimation methods of K from envelope and from the I/Q components, there is an academic analysis about the precision of these methods by simulations, and the complexity of the first- and second-order moments method and the second- and fourth-order moments method in engineering in the paper. Furthermore, we come to the conclusion is that: while could obtain high estimation accuracy, the second- and fourth-order moments method consume much less time and is used more widely in engineering applications.