Statistical Methods in Economics - Project 1

Statistical Methods in Economics - Project 1

(a)

The study is related to whether the average human hug lasts three seconds or not. The study will be based on the experimental research as the data of the study will be gathered through the observations. The method of data collection include the recording the time of hug of the humans. Therefore, for this process, the observation of hug time of humans, 30 people will be observed.

(b)

Unbiased estimator is the estimate of the parameter distribution probability of the observed values, devoid of bias. More precisely, if the estimated ...