The one with the smaller se measures the population

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: not the case, it is called a biased estimator and it produces biased estimates. E (θ) − θ is called the bias. Unbiasedness of an estimator is a desired property. But not the only one. Utku Suleymanoglu (UMich) Sampling Distributions 20 / 21 Properties of Estimators Efficieny of An Estimator If we have two unbiased estimators, we can compare their precision by comparing the sampling variances. The one with the smaller SE measures the population parameter more precisely. It is called to be a more efficient estimator. Efficieny of An Estimator ˜ If two estimators θ and θ are both unbiased esti...
View Full Document

This note was uploaded on 03/17/2014 for the course ECON 404 taught by Professor Staff during the Spring '08 term at University of Michigan.

Ask a homework question - tutors are online