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Estimation, Reference: Harinaldi & Walpole 9th edition, Nadine…
Estimation
Estimating the Mean
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A random sample of size n is selected from a population whose variance σ2 is known,
and the mean ¯x is computed to give the 100(1 − α)% confidence interval below
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Clearly, the values of the random variables Θˆ L and Θˆ U ,
are the confidence limits
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Estimating the Variance
If Θˆ 1 and Θˆ 2 are two unbiased estimators of the same population parameter θ, we
want to choose the estimator whose sampling distribution has the smaller variance.
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If we consider all possible unbiased estimators of some parameter θ, the one with
the smallest variance is called the most efficient estimator of θ.
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