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MMLU / If an estimator is said to have minimum variance, which of the following…

Problem

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question

If an estimator is said to have minimum variance, which of the following statements is NOT implied?

choices

  1. The probability that the estimate is a long way away from its true value is minimised
  2. The estimator is efficient
  3. Such an estimator would be termed "best"
  4. Such an estimator will always be unbiased

subject

econometrics

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