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Efficiency of Estimators

An estimator is a statistic that represents the properties of a population. Several estimators may be available to represent a particular property.

When selecting the one you prefer you would might consider the efficiency and bias of the alternatives.

The most efficient estimator is the one that gives the lowest expected variance of the error. Technically the efficiency is the lowest possible variance from any estimator divided by the expected variance of the selected estimator.

 Analytical and descriptive statistics are covered in the MiC Quality online course Primer in Statistics. Try out our courses by taking the first module of the Primer in Statistics free of charge.
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