Question
For a parameter of interest, two estimators 1 and 2 are given with the following properties E(1) = 3 E(2) = 2 Var(1) = 4
For a parameter of interest, two estimators 1 and 2 are given with the following properties
E(1) = 3 E(2) = 2 Var(1) = 4 Var(2) = 9
Accordingly, 1 has the smaller variance compared to 2, but the larger bias. Which of the two Estimator would you prefer? Briefly justify your answer.
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Encyclopedia Of Distances
Authors: Michel Marie Deza, Elena Deza
3rd Edition
3662443422, 9783662443422
