Find difference between sample average and population mean

Assignment Help Macroeconomics

Reference no: EM131444045

Questions: 1. Explain the difference between the sample average and the population mean.

2. Explain the difference between an estimator and an estimate. Provide an example of each.

3. A population distribution has a mean of 10 and a variance of 16. Determine the mean and variance of from an i.i.d. sample from this population for (a) n = 10; (b) n = 100; and (c) n = 1000. Relate your answers to the law of large numbers.

Reference no: EM131444045

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