MAST90100: Estimators of the Variance of a Normal Population - Accounting and Finance Assignment Help

Assignment Task:

Comparing two estimators of the variance of a normal population. 

In this question we ask you to examine the properties of two alternative estimators of the variance of a normal population. To fix the ideas, suppose we consider the distribution of heights of Dutch women: it is well known that height in most populations (of a single-sex) is normally distributed and that the Dutch are tall, so let’s assume that the distribution of height in this population has a mean of 168cm with a standard deviation of 6cm. [You can actually find (an estimate of) the mean in Wikipedia, standard deviations are harder to find!] Now consider the statistical problem of estimating the variance of height in this population. The true value is 36, but we consider the “real-world” scenario in which we don’t know this fact; instead, we can study random samples from the population and estimate the variance from the data obtained in these samples.

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