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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Let X1,X2,X3,and X4 be a random sample of observations from a population with mean μ and variance σ2.Consider the following two point estimators of μ:
1 = 0.10 X1 + 0.40 X2 + 0.40 X3 + 0.10 X4 and
2 = 0.20 X1 + 0.30 X2 + 0.30 X3 + 0.20 X4
-What is the relative efficiency of 1 with respect to
2?
Average Daily Receipts
The average amount of cash flow received by a business per day over a defined period of time.
Collection Delay
The time lag between when a sale is made and when the payment is actually received, affecting cash flow.
Average Amount
The sum of individual amounts divided by the number of amounts, representing a central value or typical amount in a set of data.
Weighted Average Delay
An estimation of the average delay in time, considering the relative importance or weight of each contributing factor.
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