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Let X1, X2, X3, and X4 be a random sample of observations from a population with...

  1. Let X1, X2, X3, and X4 be a random sample of observations from a population with mean μ and variance σ2.

Consider the following estimator of μ: 1 = 0.15 X1 + 0.35 X2 + 0.20 X3 + 0.30 X4. Is this a biased estimator for the mean? What is the variance of the estimator? Can you find a more efficient estimator?) ( 10 Marks)

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