Question: 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,

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.

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