Suppose that E(X1) = μ, Var(X1) = 10, E(X2) = μ, and Var(X2) = 15, and consider
Question:
(a) Calculate the bias of each point estimate. Is any one of them unbiased?
(b) Calculate the variance of each point estimate. Which one has the smallest variance?
(c) Calculate the mean square error of each point estimate. Which point estimate has the smallest mean square error when μ = 8?
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Related Book For
Probability And Statistics For Engineers And Scientists
ISBN: 9780495107576
3rd Edition
Authors: Anthony Hayter
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