Example: An estimator for the population mean If we are interested in the population mean a very intuitive estimator of the population mean based on a sample(Xyx2…yxkn)is e(X1X2y Xn)=(X1+X2+atxn)/n a Suppose someone suggest e(x1X2 74 xn)=(x1+x2+…+xn+1)/n Ka-fu Wong C2007 ECON1003: Analysis of Economic Data Lesson 1-14Ka-fu Wong © 2007 ECON1003: Analysis of Economic Data Lesson1-14 Example: An estimator for the population mean ◼ If we are interested in the population mean, a very intuitive estimator of the population mean based on a sample (x1 ,x2 ,...,xn) is θ(x1 ,x2 ,...,xn)= (x1+x2+...+xn)/n ◼ Suppose someone suggest θ(x1 ,x2 ,...,xn)= (x1+x2+...+xn+1)/n