An Estimator Is Unbiased If the Mean of Its Sampling

question 29

Multiple Choice

An estimator is unbiased if the mean of its sampling distribution is equal to________.

• A) the midpoint of the distribution.
• B) the sample mean.
• C) the population value.
• D) the population median.

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Definitions:

Absolute Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than any other production entity.

Comparative Advantage

The ability of an individual or group to carry out a particular economic activity more efficiently than another activity.

Production Relationships

Production relationships refer to the connections and interactions between inputs used in the production process and the resulting outputs.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods, given a set of inputs.