Fill in the blanks An unbiased estimator is a statistic that targets the value of the of the population parameter such that the sampling distribution of the statistic has a _______ equal to the _______ of the corresponding parameter.A. mean, mean B. standard deviation, standard deviation C. mean, standard deviation D. range, range/4
1. A statistic is an unbiased estimator of a population
parameter. This means that ...
A. ... the population mean is equal to the mean of the
parameter.
B. ... the population is normal and the population mean is equal
to the statistic.
C. ... the population is normal, the population mean is equal to
the statistic mean, and the population standard deviation is equal
to the parameter standard deviation.
D. ... the statistic mean is equal to the parameter....
Explain and discuss why engineers usually want the minimum
variance unbiased estimator (MVUE). What benefits are achieved
by using the MVUE in making engineering decisions, and what risks
or impacts might be seen if another estimator is chosen at times?
Try to use hypothetical examples to illustrate your thinking.
When sample size gets larger, an unbiased point estimator gets
closer and closer to the parameter it estimates. This property is
called:
a.
consistency
b.
relative estimation
c.
efficiency
d.
unbiased efficiency
does the "unbiased" aspect of unbiased estimator
indicate that it underestimates the population value with same
tenency as it overestimates the population value, or not?
The Gauss-Markov theorem says that the OLS estimator is the best linear unbiased estimator. Explain which assumptions are needed in order to verify Gauss-Markov theorem? Consider the Cobb-Douglas production function