Your Textbook Suggests Using the First Observation from a Sample

question 31

Essay

Your textbook suggests using the first observation from a sample of n as an estimator of
the population mean.It is shown that this estimator is unbiased but has a variance of
σ2 , which makes it less efficient than the sample mean.Explain why this estimator is
Y
not consistent.You develop another estimator, which is the simple average of the first
and last observation in your sample.Show that this estimator is also unbiased and show
that it is more efficient than the estimator which only uses the first observation.Is this
estimator consistent?

Understand the significance of logistics in the supply chain and its strategic value in marketing.

Recognize the trade-offs and decision-making process in logistics to optimize total logistics costs.

Understand the environmental and sustainability considerations in logistics decision-making.

Understand different analyses used in evaluating logistics systems.

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Definitions:

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Platforms and strategies used by companies to engage with their audience, promote their brand, and communicate corporate messages.

Clarify Information

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