📊 Consistency of Estimators
Estimator 1: Σx / n
Unbiased & consistent!
E(Estimator 1): μ = 50
Var(Estimator 1): —
Estimator 2: Σx / (n − 5)
Biased but consistent (converges to μ as n increases)
E(Estimator 2): —
Var(Estimator 2): —