ADMS 2320 Study Guide - Quiz Guide: Bias Of An Estimator, Variance, Covariance

• School: York University
• Department: Administrative Studies
• Course: ADMS 2320
• Professor: all

Document Summary

Using the formula for compound interest with the rate = 0%, Value at the end of the investment period. A point estimator draws inferences about a population by estimating the value of an unknown parameter using a single value or point. (mean) An unbiased estimator of a parameter is an estimator whose expected value is equal to that parameter. An unbiased estimator is said to be consistent if the difference between the estimator and the parameter grows smaller as the sample size grows larger. If there are two unbiased estimators of a parameter, the one whose variance is smaller is said to be relatively efficient. 68% of all observations fall within one sd of the. 95% of all observations fall within two sd of the. 99. 7% of all observations fall within three sd of the. If the histogram is not at all bell-shaped, 75% of the marks fall between 2.