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Title: In general, unbiased estimators are preferred for inference because: Post by: mylesnagop on Feb 19, 2023 In general, unbiased estimators are preferred for inference because: ▸ bias in inference is always bad and should be avoided at all costs, so using unbiased estimators is the only way to conduct objective inference. ▸ unbiased estimators always have the least amount of variance of all possible estimators. ▸ a biased estimator will almost always give very little insight into the parameter being estimated and, therefore, serves as a poor guess of the parameter’s true value. ▸ in many cases the most probable value of an unbiased estimator is the value of the parameter being estimated; thus, unbiased estimators typically converge on values near the parameter. Title: Re: In general, unbiased estimators are preferred for inference because: Post by: majudomminick on Feb 19, 2023 Content hidden
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