Question: 21. Comment on the following statement: In taking the sample mean as an estimator of the population mean, the statistician is acting essentially as though

21. Comment on the following statement: “In taking the sample mean as an estimator of the population mean, the statistician is acting essentially as though he had a quadratic loss function.” Explain the difference between the approach to point estimation taken in Chapter 6 and the approach taken in this chapter.

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