Asked by Nicole Williamson on Sep 29, 2024
The sample variance is a point estimate of the population variance.
Sample Variance
A measure of the dispersion or spread of a set of data points in a sample, quantifying how much the data deviate from the mean.
Population Variance
A measure of the spread between numbers in a dataset, representing the average of the squared differences from the Population Mean.
- Absorb the foundational concepts of unbiased and biased estimators.
- Comprehend the impact of sample variance on estimator bias.
Learning Objectives
- Absorb the foundational concepts of unbiased and biased estimators.
- Comprehend the impact of sample variance on estimator bias.
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