Chapter 10 Homework.pptx - CHAPTER 10 HOMEWORK QUESTION 1 A...

CHAPTER 10
HOMEWORK

QUESTION 1
A POINT ESTIMATOR IS DEFINED AS:
A RANGE OF VALUES THAT ESTIMATES AN UNKNOWN POPULATION
PARAMETER.
A SINGLE VALUE THAT ESTIMATES AN UNKNOWN POPULATION PARAMETER.
A RANGE OF VALUES THAT ESTIMATES AN UNKNOWN SAMPLE STATISTIC.
A SINGLE VALUE THAT ESTIMATES AN UNKNOWN SAMPLE STATISTIC.

QUESTION 2
WHICH OF THE FOLLOWING IS A CHARACTERISTIC FOR A GOOD ESTIMATOR?
BEING UNBIASED
BEING CONSISTENT
HAVING RELATIVE EFFICIENCY
ALL OF THE ABOVE

QUESTION 3
IF THERE ARE TWO UNBIASED ESTIMATORS OF A POPULATION PARAMETER
AVAILABLE, THE ONE THAT HAS THE SMALLEST VARIANCE IS SAID TO BE:
A BIASED ESTIMATOR.
RELATIVELY EFFICIENT.
CONSISTENT.
RELATIVELY UNBIASED.

QUESTION 4
THE PROBLEM WITH RELYING ON A POINT ESTIMATE OF A POPULATION
PARAMETER IS THAT:
IT IS VIRTUALLY CERTAIN TO BE WRONG.
IT DOESN'T HAVE THE CAPACITY TO REFLECT THE EFFECTS OF LARGER SAMPLE
SIZES.
IT DOESN'T TELL US HOW CLOSE OR FAR THE POINT ESTIMATE MIGHT BE FROM
THE PARAMETER.
ALL OF THESE CHOICES ARE TRUE.