Question 2Select one:
it is essential that an estimator is efficient and the consistency measures an estimator precision in large sample
consistency is the large sample analogue of being BLUE and we need to work with BLUE estimators, this is why we have the Gauss Markov assumptions
An estimator is a random variable and in order for it to be a good estimator it must on average in repeated sampling be equal to the true value of the paprameter we are trying to estimate
If an estimator does not converge to the true value of the parameter as we have more and more observations than there is no point in using it to guess the unknown parameters
the consistency ensures that on average the estimator will get the true value of the parameter as the
to generate a solution
a solution
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