In our presentation of this week’s materials, we choose to switch the presentation of statistics and estimators, electing to discuss properties that we would like estimators to posses, before we actually introduce any specific estimators.
5.3.1 Three properties of estimators
What are the three desirable properties of estimators?
Is one these properties more important than another? If you had to force-rank these properties in terms of their importance, which is the most, and which the least important? Why?