Unbiased estimator

Unbiased estimator

Directions:
Please read first and then respond to their questions in a simple paragraph to each one bellow (separate) #1 through #5
SUBSTANTIVE 1 full paragraph on each of the responses (separately)
• Greet a specific student or a group of fellow students by name.
• Put key concepts in own words and provide unique examples
•Add substantive information, asks meaningful questions to peers and provides substantive responses
•Draw insightful conclusions that are thoroughly defended
Write responses that can be easily understood and are clear and concise
• Clearly identify the source of information and evidence that you do use.
• Include detail from our text and common reading as evidence for what you have to say (Remember that others will need to draw on our readings, too, so only use just enough information from our readings to make your point clearly).
about confidence intervals, estimators and estimation of a mean. In order for an estimator to be considered good, it has to be unbiased, efficient and consistent.
Class, is it possible to have an unbiased estimator?
Class, why is it so important to estimate correct confidence intervals?

#2. Professor,

Class, statistical estimation has many uses in real life. Estimation is used in Project Management, Manufacturing, Politics, Marketing, and Systems Engineering, just to name few. Estimation theory is used as a validation tool to verify that our analytical assumptions are correct. Looking at the latest economic downturn, one cannot begin to wonder if any of the economists and business leaders looked at the applications of the theory of estimation in real life. I doubt that it would help prevent the downturn, but it could have helped in preparations for it.
Class, do you think that theory of estimation could have helped in reducing numbers of foreclosures or unemployment rates between 2009 and 2012?

#.3 Dexter

Hypothesis testing is the process used to evaluate the strength of evidence from the sample and provides a framework for making determinations related to the population, i.e., it provides a method for understanding how reliably one can extrapolate observed findings in a sample under study to the larger population from which the sample was drawn (Reference: Hypothesis Testing, Means by Dr. Roger B. Davis). Whereas an estimator is good if it’s unbiased and has a small standard error

#4. Alysha

Vision is comprised of goals and beliefs to seek a certain end result. It is important to develop a personal vision in order to strive toward something; to have direction and guidance to reach a certain result. People can develop visions for personal reasons as well as career-oriented visions, or visions that help them strive in both. Personal vision gives individuals motivation and direction and can help them in their career paths and focus on doing their best everyday in the work place. Their visions can help them strive to be better and as a result push them forward in their careers.
Nancy Brinker, the sister of Susan Komen is the founder of Susan G. Komen for the Cure, a foundation for breast cancer. Nancy’s sister was diagnosed with breast cancer and she promised Susan that she would do “everything in her power to end breast cancer forever” ("About us," 2013). For over 30 years, the foundation has raised billions of dollars in breast cancer research, as well as raising awareness of the disease. This has changed the fate of millions of people diagnosed with breast cancer through fundraising and research the organization provides ("About us," 2013).
This global organization is the direct result of one person’s personal vision to end this sickness for everyone. People across the world participate in fundraising campaigns that bring everyone together all for the sake of one cause. The vision to rid everyone of this cancer drives this organization everyday. One person’s vision has become an entire company’s vision statement. A great company should be comprised of multiple people working toward the same vision, wanting the same end result, and doing everything in their power to make that vision a reality.

#5. Carmela

Vision is knowing where you are going in the future and how to navigate towards that vision. Organization vision is derived from the visions of the organization’s leadership. These visions are what help drive organizations and people to reach their goals. Visions are founded on values, beliefs, customs, and traditions. Visions can either be positive or negative. Developing a personal vision can help enable a leader to develop and motivate people forward in the organization by providing a clear direction to follow with end goals in sight. “Great leaders give real thought to the values, ideas and activities they’re most passionate about–and those are the things they pursue, rather than money or prestige or options forced on them by someone else. The visions these leaders have can be–and, in fact, should be–challenging to put into action. They realize them only by setting realistic, demanding goals and then going after them relentlessly, with the help of other talented men and women who are equally committed and engaged.” (Ryan, 2009)
Habitat for Humanity was founded in 1976 by Millard and Linda Fuller that had a vision to address the issues of poverty housing. Their vision is, “A world where everyone has a decent place to live.” (Habitat for Humanity, n.d.) To date, their vision has helped build or repair more than 600,000 houses around the world and has helped more than 3 million people.

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