Asked by kedna Senatus on Sep 29, 2024
Which of the following is a characteristic for a good estimator?
A) Being unbiased
B) Being consistent
C) Having relative efficiency
D) All of these choices are true.
Relative Efficiency
A measure comparing the precision or performance of two statistical estimators or methods.
Unbiased
An attribute of an estimator in statistics that means the expected value of the estimator equals the true parameter value it estimates.
Consistent
Referring to an attribute or behavior that is reliable and uniform over time, showing little to no variation.
- Identify characteristics of good estimators: unbiasedness, consistency, and relative efficiency.
Learning Objectives
- Identify characteristics of good estimators: unbiasedness, consistency, and relative efficiency.