Asked by Zohaib Farooq on Sep 29, 2024
An estimator is said to be consistent if:
A) the difference between the estimator and the population parameter grows smaller as the sample size grows larger.
B) it is an unbiased estimator.
C) the variance of the estimator is zero.
D) the difference between the estimator and the population parameter stays the same as the sample size grows larger.
Consistent Estimator
A statistical property where an estimator approaches the true parameter value as the sample size increases indefinitely.
Population Parameter
A value that represents a characteristic of an entire population.
- Explain the concepts of consistency and unbiasedness in estimators and illustrate the distinctions between them.
Learning Objectives
- Explain the concepts of consistency and unbiasedness in estimators and illustrate the distinctions between them.