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Justify the following: Ture or False 1.)A good point estimate is both unbiased and has small...

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Basic Math

Justify the following: Ture or False

1.)A good point estimate is both unbiased and has small standarddeviation.

2.)The confidence level C is NOT the probability that the trueparameter values is contained in a specified confidenceinterval.

3.)If you took 100 samples and computed 95% confidence intervalsfor (u) in each. Approximatley 95% of the confidenceintervals will contain the true parameter value.

4.) It is useless to compute a confidence interval using censusdata.

Answer & Explanation Solved by verified expert
3.5 Ratings (619 Votes)
1 TRUE In statistics and in particular statistical theory unbiased estimation of a standard deviation is the calculation from a statistical sample of an estimated value of the standard deviation a measure of statistical dispersion of a population of values in such a way that the expected value of the calculation equals the true value Except in some important situations outlined later the task has little relevance to applications of statistics since its need is avoided by standard procedures such as the use of significance tests and confidence intervals or    See Answer
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