Definition of a sufficient statistic

Assignment Help Business Economics
Reference no: EM132124059

We went over this problem in class but I don't understand what exactly the professor did, so could someone explain step by step how to approach a problem like this? I have a homework assignment with problems similar to this, so I'm hoping if I can understand one I can do the rest.

Let X1,...,Xn be a random sample from a Gamma distribution G(alpha, beta) when alpha = 2. Show that S = the sum of xi from i=1 to n is a sufficient statistic for beta using the definition of a sufficient statistic

Reference no: EM132124059

Questions Cloud

Presenting a clear and precise argument : In this assignment, you will develop an original argument directly in response to the argument of another writer. Specifically, you will practice critical.
How many ways can the 3 suits be selected : John plans to take three suits on his business trip. If John owns 8 suits, how many ways can the 3 suits be selected?
What can the parties do to limit the obligations : List ten areas of consideration Semicontronics should include in its contract to have Singatron manufacture computer chips.
Develop a leadership philosophy statement : After evaluating a leader like David Shulken who is Secretary of the Veteran Affairs, develop a leadership philosophy statement.
Definition of a sufficient statistic : Show that S = the sum of xi from i=1 to n is a sufficient statistic for beta using the definition of a sufficient statistic
Influence tactics-leadership style and conscious capitalism : A great leader uses certain power bases, influence tactics, leadership style, conscious capitalism
Which is the best data to use from the excel output : What I am unsure of is which is the best data to use from the excel output? I have t-stat=0.4877, P(Tless/equalt)one-tail=0.3152 and t-critical one-tail=1.717?"
Review problem related to research proposal : A research proposal is an overview of the argument contained in your working thesis statement, sometimes called a hypothesis. It is not based on research.
Discuss what the strategy and why believe it be ineffective : Think of products/services/companies you've heard of, or look up online, and discuss what the strategy is and why you believe it will be ineffective

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd