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Estimation of parameters of populations is accomplished by selecting a random sample from that population, and...

Estimation of parameters of populations is accomplished by selecting a random sample from that population, and choosing and computing a statistic that is the best estimator of the parameter. True or False ?

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Answer #1

To estimate parameters of a population we select a random sample of size n from that population and then we compute a function of sample values called statistic to estimate the parameter. Since corresponding to any parameters there can be many rival estimators, some criteria is chosen to select the best one. Depending on the criteria, like minimum mean square error among unbiased estimators etc, we give the best estimator of the parameters .

Hence the given statement is True.

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