Let b be a parameter we want to estimate. We collect the data, and calculate an...

Let b be a parameter we want to estimate. We collect the data, and calculate an estimator for b using the data. What does it mean for this estimator to be unbiased? choose one correct answer.

1. The variance of the estimator decays to zero as we collect more and more data in the calculation.

2. The covariance between b and the estimator equals zero.

3. Th estimator becomes closer and closer to b as we collect more and more data in the calculation.

4. The expected value of the estimator equals b.

Solutions

Expert Solution

Ans - 4) The expected value of the estimator equals b.

Explanation:

An estimator is said to be unbiased estimator if the expected value of the estimator is equal to the parameter.

Rahul Sunny answered 2 years ago

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