What does bias of an estimator mean?
Definitions for bias of an estimator
bias of an es·ti·ma·tor
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Wikipedia
Bias of an estimator
In statistics, the bias (or bias function) of an estimator is the difference between this estimator's expected value and the true value of the parameter being estimated. An estimator or decision rule with zero bias is called unbiased. In statistics, "bias" is an objective property of an estimator. Bias can also be measured with respect to the median, rather than the mean (expected value), in which case one distinguishes median-unbiased from the usual mean-unbiasedness property. Bias is related to consistency in that consistent estimators are convergent and asymptotically unbiased (hence converge to the correct value as the number of data points grows arbitrarily large), though individual estimators in a consistent sequence may be biased (so long as the bias converges to zero); see bias versus consistency. All else being equal, an unbiased estimator is preferable to a biased estimator, but in practice biased estimators are frequently used, generally with small bias. When a biased estimator is used, bounds of the bias are calculated. A biased estimator may be used for various reasons: because an unbiased estimator does not exist without further assumptions about a population or is difficult to compute (as in unbiased estimation of standard deviation); because an estimator is median-unbiased but not mean-unbiased (or the reverse); because a biased estimator gives a lower value of some loss function (particularly mean squared error) compared with unbiased estimators (notably in shrinkage estimators); or because in some cases being unbiased is too strong a condition, and the only unbiased estimators are not useful. Further, mean-unbiasedness is not preserved under non-linear transformations, though median-unbiasedness is (see § Effect of transformations); for example, the sample variance is a biased estimator for the population variance, but its square root, the sample standard deviation, is an unbiased estimator for the population standard deviation. These are all illustrated below.
Numerology
Chaldean Numerology
The numerical value of bias of an estimator in Chaldean Numerology is: 5
Pythagorean Numerology
The numerical value of bias of an estimator in Pythagorean Numerology is: 7
Translations for bias of an estimator
From our Multilingual Translation Dictionary
- egy becslő torzításaHungarian
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"bias of an estimator." Definitions.net. STANDS4 LLC, 2024. Web. 29 Apr. 2024. <https://www.definitions.net/definition/bias+of+an+estimator>.
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