Hi guys, I havent quite understood these two concepts quite clearly... would appriciate it if you could shed some light...Thanks!
1)Are point estimates and sample statistics the same?
2) Schweser mentions that an unbiased estimator is efficient if the variance of the sampling distribution is smaller than that of all the other unbiased estimators of the parameter you are trying to estimate. .... How can a single parameter, say the mean, have multiple sampling distributions for each of the estimates... Doesn't a sample statistic have a single sample distribution? |