A Consistent Estimator for the Mean

question 98

Multiple Choice

A consistent estimator for the mean:

• A)converges on the true parameter μ as the variance increases.
• B)converges on the true parameter μ as the sample size increases.
• C)consistently follows a normal distribution.
• D)is impossible to obtain using real sample data.

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Definitions:

Tax Burden

The total amount of taxes that individuals or businesses must pay to the government, expressed as a percentage of income or revenue.

Seller

An individual or entity that offers goods or services in exchange for payment, playing a crucial role in the dynamics of supply and demand in a market.

Market

A system or arena where buyers and sellers interact to trade goods, services, or resources.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, leading to market stability.