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A question on unbiased estimators, repeated sampling, Central Limit Theorem. see below please (a) (b) (c) Consider this quote: If an estimator is unbiased, then
A question on unbiased estimators, repeated
sampling, Central Limit Theorem. see below please
(a) (b) (c) Consider this quote: "If an estimator is unbiased, then its probability distribution has an expected value equal to the parameter it is supposed to be estimating". Explain this quote with reference to the concept of 'repeated sampling'. (4 marks) Draw a diagram illustrating the example of two unbiased estimators that have different levels of efficiency. Which estimator would you prefer to use and why? (2 marks) State the Central Limit Theorem (CLT) using the example of a random variable X which has a uniform distribution. In this particular example, we take successive, independent sub-samples of n=2 from the population represented by random variable X to obtain alternative estimates of the sample mean Xn. We then study the distribution of these sample means Xn across repeated samples. (4 marks)
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