Question: Suppose that E(X1) = Î¼, Var(X1) = 7, E(X2) = Î¼, Var(X2) = 13, E(X3) = Î¼, and Var(X3) = 20, and consider the point

Suppose that E(X1) = Î¼, Var(X1) = 7, E(X2) = Î¼, Var(X2) = 13, E(X3) = Î¼, and Var(X3) = 20, and consider the point estimates

(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 Î¼ = 3?

/23 = +-+-+2

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