Asked by Negatory Circumstance on Sep 29, 2024
If there are two unbiased estimators of a parameter,the one whose variance is smaller is said to be relatively efficient.
Unbiased Estimators
Statistical estimators whose expected value is equal to the parameter being estimated.
Variance
A measure of the dispersion indicating how much the values in a data set differ from the mean.
Relatively Efficient
Describes a statistical estimator or procedure that has lower variance or better performance compared to others under certain conditions.
- Unveil the critical features of proficient estimators, highlighting unbiasedness, consistency, and relative efficiency.
- Identify the criteria for choosing between different estimators.
Learning Objectives
- Unveil the critical features of proficient estimators, highlighting unbiasedness, consistency, and relative efficiency.
- Identify the criteria for choosing between different estimators.