THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 64

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A Monte Carlo study involves 10,000 random samples of size 20 from a normal population with mean μ = 120 and standard deviation σ = 20.For each sample,the mean and the median are calculated,with the following results:

-Which of the two estimators appears most efficient?

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Definitions:

Authority

The right or power assigned to an individual or organization to make decisions, give orders, and enforce rules.

Disclose Identity

The act of revealing or making known the identity of a person or entity, often in legal contexts where anonymity is protected until disclosure is required.

Contract

A legally binding agreement between two or more parties that defines and governs the rights and duties of those parties.

Principal

The original amount of money invested or loaned, not including profits or interest.