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What is meant by consistency

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Reference no: EM13891603

1. Why is the OLS estimator so widely used? Is it superior to all other estimators?

2 What is meant by the mean-square error? Why and when is the rule to minimize the mean- square error useful? (b) Prove that the mean-square error equals the variance plus the square of the bias of the estimator.

3. What is meant by consistency? (b) Draw a figure of the sampling distribution of a consistent estimator.

Reference no: EM13891603

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