Explain the idea of a bias and its ramifications.
Answer to relevant QuestionsIs the sample median a biased estimator of the population mean? Why do we usually prefer the sample mean to the sample median as an estimator for the population mean? If we use the sample median, what must we assume about ...When sampling is from a normal population with an unknown variance, is the sampling distribution of the sample mean normal? Explain. Japan's birthrate is believed to be 1.57 per woman. Assume that the population standard deviation is 0.4. If a random sample of 200 women is selected, what is the probability that the sample mean will fall between 1.52 and ...British Petroleum has recently been investing in oil fields in the former Soviet Union.4 Before deciding whether to buy an oilfield, the company wants to estimate the number of barrels of oil that the oilfield can supply. ...An insurance company handling malpractice cases is interested in estimating the average amount of claims against physicians of a certain specialty. The company obtains a random sample of 165 claims and finds x-bar = $16,530 ...
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