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What is meant by bias?

In stat the term bias is referred to a directional error in the estimator.


What biased estimator will have a reduced bias based on an increased sample size?

The standard deviation. There are many, and it's easy to construct one. The mean of a sample from a normal population is an unbiased estimator of the population mean. Let me call the sample mean xbar. If the sample size is n then n * xbar / ( n + 1 ) is a biased estimator of the mean with the property that its bias becomes smaller as the sample size rises.


Which statement about bias in social studies sources is true?

Bias occurs when a writer intentionally omits information that weakens his or her argument.


What is the correct spelling for estimator?

Estimator is the correct spelling.


What is an efficient estimator?

In statistics, an efficient estimator is an estimator that estimates the quantity of interest in some "best possible" manner


What is the uses of ratio estimator?

what is the use and application of ratio estimator?


What is another name for sales estimator?

what is another name for estimator


How is it that a random samples gives a fairly accurate representation of public opinion?

The main point here is that the Sample Mean can be used to estimate the Population Mean. What I mean by that is that on average, the Sample Mean is a good estimator of the Population Mean. There are two reasons for this, the first is that the Bias of the estimator, in this case the Sample Mean, is zero. A Bias other than zero overestimates or underestimates the Population Mean depending on its value. Bias = Expected value of estimator - mean. This can be expressed as EX(pheta) - mu (pheta) As the Sample Mean has an expected value (what value it expects to take on average) of itself then the greek letter mu which stands for the Sample Mean will provide a Bias of 0. Bias = mu - mu = 0 Secondly as the Variance of the the Sample Mean is mu/(n-1) this leads us to believe that the Variance will fall as we increase the sample size. Variance is a measure of the dispersion of values collected from the centre of the data. Where the centre of the data is a fixed value equal to the median. Put Bias and Variance together and you get the Mean Squared Error which is the error associated with using an estimator of the Population Mean. The formula for Mean Squared Error = Bias^2 + Variance With our estimator we can see that as the Bias = zero, it has no relevance to the error and as the variance falls as the sample size increases then we can conclude that the error associated with using the sample mean will fall as the sample size increases. Conclusions: The Random Sample of public opinon will on average lead to a true representation of the Population Mean and therefore the random samle you have will represnt the public opinion to a fairly high degree of accuracy. Finally, this degree of accuracy will rise incredibly quickly as the sample size rises thus leading to a very accurate representation (on average)


What is the criteria of a good estimator in econometrics?

Answer this question Critria of good estimator


What occurs when the expectation of a scientist change how the result of an experiment are viewed?

Bias occurs when scientists' expectations change how the results of an experiment are viewed.


Why the sample variance is an unbiased estimator of the population variance?

The sample variance is considered an unbiased estimator of the population variance because it corrects for the bias introduced by estimating the population variance from a sample. When calculating the sample variance, we use ( n-1 ) (where ( n ) is the sample size) instead of ( n ) in the denominator, which compensates for the degree of freedom lost when estimating the population mean from the sample. This adjustment ensures that the expected value of the sample variance equals the true population variance, making it an unbiased estimator.


What is the best estimator of population mean?

The best point estimator of the population mean would be the sample mean.