   Chapter 4.5, Problem 1LC Essentials of Statistics for the B...

8th Edition
Frederick J Gravetter + 1 other
ISBN: 9781133956570

Solutions

Chapter
Section Essentials of Statistics for the B...

8th Edition
Frederick J Gravetter + 1 other
ISBN: 9781133956570
Textbook Problem

Explain the difference between a biased and an unbiased statistic.

To determine

To Explain: The difference between a biased and an unbiased statistic.

Explanation

When the average value of the statistic is equal to the population parameter then that sample statistic is known as unbiased estimator. Similarly, when the average value of the statistic is not equal to the population parameter then that sample statistic is known as biased estimator. For instance, unbiased estimator mathematically shown as:

E(X¯)=μ

Similarly, biased estimator is shown as:

E

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