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What are the main qualities of a good estimator?
A "Good" estimator is the one which provides an estimate with the following qualities:Unbiasedness: An estimate is said to be an unbiased estimate of a given parameter when the expected value of that estimator can be shown to be equal to the parameter being estimated. For example, the mean of a sample is an unbiased estimate of the mean of the population from which the sample was drawn. Unbiasedness is a good quality for an estimate, since, in such a case, using weighted average of several estimates provides a better estimate than each one of those estimates. Therefore, unbiasedness allows us to upgrade our estimates. For example, if your estimates of the population mean µ are say, 10, and 11.2 from two independent samples of sizes 20, and 30 respectively, then a better estimate of the population mean µ based on both samples is [20 (10) + 30 (11.2)] (20 + 30) = 10.75.Consistency: The standard deviation of an estimate is called the standard error of that estimate. The larger the standard error the more error in your estimate. The standard deviation of an estimate is a commonly used index of the error entailed in estimating a population parameter based on the information in a random sample of size n from the entire population.An estimator is said to be "consistent" if increasing the sample size produces an estimate with smaller standard error. Therefore, your estimate is "consistent" with the sample size. That is, spending more money to obtain a larger sample produces a better estimate.Efficiency: An efficient estimate is one which has the smallest standard error among all unbiased estimators.The "best" estimator is the one which is the closest to the population parameter being estimated.
What are the quality of a good estimator?
A "Good" estimator is the one which provides an estimate with the following qualities:Unbiasedness: An estimate is said to be an unbiased estimate of a given parameter when the expected value of that estimator can be shown to be equal to the parameter being estimated. For example, the mean of a sample is an unbiased estimate of the mean of the population from which the sample was drawn. Unbiasedness is a good quality for an estimate, since, in such a case, using weighted average of several estimates provides a better estimate than each one of those estimates. Therefore, unbiasedness allows us to upgrade our estimates. For example, if your estimates of the population mean µ are say, 10, and 11.2 from two independent samples of sizes 20, and 30 respectively, then a better estimate of the population mean µ based on both samples is [20 (10) + 30 (11.2)] (20 + 30) = 10.75.Consistency: The standard deviation of an estimate is called the standard error of that estimate. The larger the standard error the more error in your estimate. The standard deviation of an estimate is a commonly used index of the error entailed in estimating a population parameter based on the information in a random sample of size n from the entire population.An estimator is said to be "consistent" if increasing the sample size produces an estimate with smaller standard error. Therefore, your estimate is "consistent" with the sample size. That is, spending more money to obtain a larger sample produces a better estimate.Efficiency: An efficient estimate is one which has the smallest standard error among all unbiased estimators.The "best" estimator is the one which is the closest to the population parameter being estimated.
What is a safe estimate?
It is an estimate that is quite safe
What is the estimate of 15772?
The estimate for 15,772 is 10,000
What is the upper bound estimate?
An upper bound estimate is a estimate that is greater than the actual solution.
What is 100 percent of 1286?
100% of anything is the thing itself. So 100% of 1286 = 1286
What is the closest estimate for 83 29 is?
The closest estimate is the exact answer. For any other estimate, you can always get closer.
What is The closest estimate for 69x38 is?
The closest estimate is, of course, the exact value.
What is the closest estimate of 376 multiplied by 43?
The closest estimate is the exact answer: you cannot get closer than that!
What is the closest estimate of 58.27?
It is 60 as a close estimate
What are the factors of 1597?
1 and 1597
What is the prime factoriztion in 2572?
2572/2=1286 1286/2=643 2*2*643
What is 1286 rounded to the nearest ten?
1290
Is 1286 divisible by three?
No.
What is the closest estimate for 8880?
It is: 9000
What is 1597 x 6?
1597*6=9,582
What is the closest estimate for the product of 2x19x5?
190 is.
