THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 73

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Suppose that x₁ and x₂ are random samples of observations from a population with mean μ and variance σ².Consider the following three point estimators,X,Y,and Z,of μ: X = (x₁ + x₂)/2,Y = (x₁ + 3x₂)/4,and Z = (x₁ + 2x₂)/3.
-Which of the estimators X,Y,and Z is the most efficient?

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Definitions:

Uncertainty Avoidance

A societal characteristic indicating how much ambiguity and uncertainty are accepted within a culture.

Uncertainty Avoidance

A cultural dimension that describes the extent to which a society or organization tolerates ambiguity and uncertainty.

Dissenting Viewpoints

Opinions or perspectives that differ significantly from the mainstream or accepted stance within a group, organization, or society.

Consensus

An informational cue indicating the extent to which peers in the same situation behave in a similar fashion.