Chapter 10 Homework.pptx - CHAPTER 10 HOMEWORK QUESTION 1 A POINT ESTIMATOR IS DEFINED AS A RANGE OF VALUES THAT ESTIMATES AN UNKNOWN POPULATION

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

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CHAPTER 10 HOMEWORK
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QUESTION 1A 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.
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QUESTION 2WHICH OF THE FOLLOWING IS A CHARACTERISTIC FOR A GOOD ESTIMATOR?BEING UNBIASEDBEING CONSISTENTHAVING RELATIVE EFFICIENCYALL OF THE ABOVE
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QUESTION 3IF 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.
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QUESTION 4THE 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.
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