A sample statistic such that the mean of all its possible values differs from the population parameter the statistics seeks to estimate is called:
A) an efficient estimator
B) an inconsistent estimator
C) a biased estimator
D) a Bayesian estimator
E) a least squares estimator

Question

Quizplus · Accepted Answer

A biased estimator is one that has a systematic tendency to overestimate or underestimate the population parameter it seeks to estimate. This means that the mean of all its possible values will be different from the true population parameter, making it an inconsistent estimator. An efficient estimator is one that uses all available information to produce estimates with minimum variance, which is a different concept altogether. Bayesian and least squares estimators are specific methods for estimating parameters, while biased and inconsistent are general properties of any estimator.

A Sample Statistic Such That the Mean of All Its