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Let X1, X2, X3, and X4 be independent random variables with unknown mean and known variance = 25. Suppose that and 2 are two
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Let X1, X2, X3, and X4 be independent random variables with unknown mean and known variance = 25. Suppose that and 2 are two (poorly selected) estimators of , where 1 = 2 X1 - 3 5 4 5 2 4 5 and = X2 6 a. Calculate the bias B () for and the bias B (2) for . b. Calculate the mean squared error (MSE) for and for 2. c. Which estimator, or 2, is better for ? Explain your reasoning.
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