In: Statistics and Probability
Let Y1, Y2, Y3, and Y4be independent, identically distributed random variables from a population with a mean μ and a variance σ2. Consider a different estimator of μ:
W = Y1+ Y2+ Y3+ Y4.
Let Y1, Y2, Y3, and Y4be independent, identically distributed random variables from a population with a mean μ and a variance σ2. Consider a different estimator of μ:
W = 1/8 Y1+ 1/3 Y2+ 1/6 Y3+ 3/8 Y4.
This is an example of a weighted average of the Yi.