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Zhenyu, a manager at Finertech, wants to inform an employee that he was not considered for a promotion. He wants to use a channel of communication that will allow him a great degree of control over his message. Which of the following channels of communication should Zhenyu use to maintain a high degree of control over his message?
Biased Estimator
An estimator that, on average, does not equal the true parameter of the population, indicating a systematic error in estimation.
Population Parameter
A numerical value summarizing a characteristic of an entire population, such as mean or variance.
Efficient Estimator
An estimator that achieves the lowest possible variance among all unbiased estimators for a parameter of interest.
Random Sample
A sample drawn from a population in such a way that every individual has an equal chance of being selected, ensuring the sample's representativeness.
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