ecnometrics

Consistency is the most important property of an estimator. If an estimator is not consistent we will not use it to estimate the unknown parameters. This is because : Select one: a. If an estimator does not converge to the true value of the parameter as we have more and more observations than there is no point in using it to guess the unknown parameters b. consistency is the large sample analogue of being BLUE and we need to work with BLUE estimators, this is why we have the Gauss Markov assumptions c. An estimator is a random variable and in order for it to be a good estimator it must on average in repeated sampling be equal to the true value of the paprameter we are trying to estimate d. it is essential that an estimator is efficient and the consistency measures an estimator precision in large sample e. the consistency ensures that on average the estimator will get the true value of the parameter as the sample size increases Clear my choice