Standard-error bound on the error of estimation

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Reference no: EM131026397

The number of persons coming through a blood bank until the first person with type A blood is found is a random variable Y with a geometric distribution. If p denotes the probability that any one randomly selected person will possess type A blood, then E(Y ) = 1/p and V(Y ) = (1 - p)/p².

a. Find a function of Y that is an unbiased estimator of V(Y ).

b. Suggest how to form a 2-standard-error bound on the error of estimation when Y is used to estimate 1/p.

Reference no: EM131026397

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