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Small Sample properties Unbiased Estimator : Biased means the difference of true value of parameter and value of estimator. When the difference becomes zero then it is called unbiased estimator. i.e., Best Estimator : An estimator is called best when value of its variance is smaller than variance is best. i.e . Where is another estimator. Efficient Estimator : …

Given the assumptions of the classical linear regression model, the least-squares estimators, in the class of unbiased linear estimators, have minimum variance, that is, they are BLUE. In other words Gauss-Markov theorem holds the properties of Best Linear Unbiased Estimators. Following are some of the assumptions which should be taken into consideration for the mathematical derivation …

The expected value, or mean, of a random variable is a measure of the central location for the random variable. The formula for the expected value of a discrete random variable X follows. Expected value of a discrete random variable X can be written as i.e., Properties of Mathematical Expectations 1. The expected value of constant …

Basic competitive models gives an answer of the control problems of an economy i.e., who makes the decision of what to produce, how to produce and for whom to produce. We know that, economics has been evolved and developed in the framework of a free market economy in which the resources of the society are owned …

The term probability has been interpreted in terms of four definitions : 1. Classical Definitions : the classical definition states that if an experiment consists of ’S’ outcomes which are mutually exclusive, exhaustive and equally likely and of them ate the favourable outcomes of an event A then the probability of the event is In other …

Practice Questions 1. Ans : 2. Ans : 3. Ans : 4. Ans : 5. Ans : 6. Ans : 7. Ans : 8. Ans : 9. Ans : 10. Ans : 11. Ans : 12. Ans : 13. Ans : 14. Ans. 15. Ans :

The thought about economic growth of Karl Marx is published in his famous book “Das Kapital”. According to Karl Marx there are five stages through which an economic development takes place. 1.PREMITIVE SOCIETY It is the uncivilised portion/part of the economy in the process of development. In this stage people live in forest and survive on …

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Prof. Kalder in his model “A model of economic growth” follows the Harrodian dynamism and analysed the Keynesian techniques of analysis. But his model is quite different form Harrodian and other models. As per Kaldor his model is a piece of economics which tries to show that the ultimate casual effect factor is not saving and …

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