Factspan Interview Question | Unbiasedness
Question
What is unbiasedness as a property of an estimator? Is this always a desirable property when performing inference?
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Statistics
4 years
1 Answer
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Answer ( 1 )
An estimator is said to be unbiased if in the long run it takes on the value of the population parameter. That is, if you were to draw a sample, compute the statistic, repeat this many, many times, then the average over all of the sample statistics would equal the population parameter.
Yes, it is a desirable property