Properties of Point Estimators: Unbiasedness, Consistency, Efficiency, and Sufficiency
In statistical inference and data science, we rarely have access to an entire population. Instead, we observe random samples and must infer unknown population parameters, denoted by symbols such as μ (mean), σ² (variance), or θ (a generic parameter). When a single numerical value computed from the sample is used to estimate a parameter, it … Read more