Suppose that and 0 are two estimators of 0 with sampling variances Var (0 = 0.02...
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Suppose that and 0 are two estimators of 0 with sampling variances Var (0 = 0.02 and Var (0) = 0.07, respectively. (a) Assume that is an unbiased estimator of 0. Does it imply that is also consistent? Why? (b) If both and are unbiased, can you tell which one is more efficient? (c) Suppose that is unbiased, but 0 is biased for 0. Is it correct to state that the value of Ô must be closer to than the value of 0? (d) Now suppose that both and are biased. The bias of 0 is -0.2, and the bias of 0 is 0.1. Compute the mean squared errors (MSEs) of 6 and 0. Which estimator is preferred according to MSE? Suppose that and 0 are two estimators of 0 with sampling variances Var (0 = 0.02 and Var (0) = 0.07, respectively. (a) Assume that is an unbiased estimator of 0. Does it imply that is also consistent? Why? (b) If both and are unbiased, can you tell which one is more efficient? (c) Suppose that is unbiased, but 0 is biased for 0. Is it correct to state that the value of Ô must be closer to than the value of 0? (d) Now suppose that both and are biased. The bias of 0 is -0.2, and the bias of 0 is 0.1. Compute the mean squared errors (MSEs) of 6 and 0. Which estimator is preferred according to MSE?
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