Two zs are Better than One

Tom Benton, David Hand and Martin Crowder

Journal of Applied Statistics, 2004, vol. 31, issue 2, 239-247

Abstract: Given only a random sample of observations, the usual estimator for the population mean is the sample mean. If additional information is provided it might be possible in some situations to obtain a better estimator. The situation considered here is when the variable whose mean is sought is composed of factors that are themselves observable. In the basic case, the variable can be expressed as the product of two, independent, more basic variables, but we also consider the case of more than two, the effect of correlation, and when there are observation costs.

Keywords: Sample mean; component observations; product estimators (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1080/0266476032000148894

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