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Unbiased Estimator
A statistical estimator that, through repeated sampling, provides results equal to the true parameter of the population.
Variance
A measure of the dispersion or spread of a set of data points, indicating how far each data point lies from the mean.
Consistency
refers to the property of an estimator in which, as the sample size increases, it converges in probability to the parameter it estimates.
Interval Estimator
An interval estimator provides a range of values, defined by an upper and lower bound, that is likely to contain the population parameter of interest.
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