http://www.johndcook.com/bias_consistency.html
Unbiased: estimate theta multiple times, then their expected average is the parameter of population.
Consistent: estimator converges to parameter of the population as the sample size got bigger.
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http://www.johndcook.com/bias_consistency.html
Unbiased: estimate theta multiple times, then their expected average is the parameter of population.
Consistent: estimator converges to parameter of the population as the sample size got bigger.