Introduction to estimation - Concepts of estimation
3 important questions on Introduction to estimation - Concepts of estimation
How do you call something that has an expected value (long-run average) which equals the parameter being estimated?
Unbiased estimator
What is an unbiased estimator to be said if the difference between the estimator and the parameter grows smaller as the sample size grows larger?
Consistent
What is said if there are two unbiased estimators of a parameter about the one whose variance is smaller?
Relative efficiency
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