(Step-by-Step) Suppose that you have two biased estimators of the same population parameter. Estimator A has a bias equal to 1/ n (that is, the mean of
Question: Suppose that you have two biased estimators of the same population parameter. Estimator A has a bias equal to 1/ n (that is, the mean of the estimator is 1/ n unit away from the parameter it estimates), Where n is the sample sized used. Estimator B has a bias equal to 0.01 (the mean of the estimator is 0.01 units away from the parameter of interest). Under what conditions is estimator A better than B?
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