1. Concerning parameter estimation:

(a) Are all statistics qualified to be estimators of the corresponding population parameters? Provide your justification.

(b) What is the quality of “good” point estimation?

(c) How do we consider the precision of the estimation based on interval estimation? How can we improve the estimation precision?

(d) As discussed previously, the (1−)×100% CI can be classified into exact estimation and approximate estimation. What is the underlying rationale for such a classification?

(e) What is the role of the central limit theorem in parameter estimation?

(f) What is the interpretation of a 95% CI? Is the CI estimate with a higher level of confidence always preferred over a lower level of confidence? Suppose we set our confidence level at 99%, what would be the effect on the width of the CI?