Consistency is the most important property of an estimator. If an estimator is not consistent we will not use it to estimate the unknown parameters . This is because : Question 2Select one:a.it is essential that an estimator is efficient and the consistency measures an estimator precision in large sampleb.consistency is the large sample analogue of being BLUE and we need to work with BLUE estimators, this is why we have the Gauss Markov assumptionsc.An estimator is a random variable and in order for it to be a good estimator it must on average in repeated sampling be equal to the true value of the paprameter we are trying to estimated.If an estimator does not converge to the true value of the parameter as we have more and more observations than there is no point in using it to guess the unknown parameterse.the consistency ensures that on average the estimator will get the true value of the parameter as the sample size increases

The question is asking us to identify the reason why consistency is considered the most important…

Answered: Consistency is the most important…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Consistency is the most important property of an estimator. If an estimator is not consistent we will not use it to estimate the unknown parameters . This is because :

Question 2Select one:

it is essential that an estimator is efficient and the consistency measures an estimator precision in large sample

consistency is the large sample analogue of being BLUE and we need to work with BLUE estimators, this is why we have the Gauss Markov assumptions

An estimator is a random variable and in order for it to be a good estimator it must on average in repeated sampling be equal to the true value of the paprameter we are trying to estimate

If an estimator does not converge to the true value of the parameter as we have more and more observations than there is no point in using it to guess the unknown parameters

the consistency ensures that on average the estimator will get the true value of the parameter as the sample size increases

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