A minimum-variance unbiased point estimate has a variance that is as small as or smaller than the variances of any other unbiased point estimate.

Question

Quizplus · Accepted Answer

When we use the sample mean as the point estimate for the population mean, we are more likely to obtain a point estimate close to the population mean than if we used any other unbiased sample statistic as the point estimate for the population mean.

A Minimum-Variance Unbiased Point Estimate Has a Variance That Is