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Two zs are Better than One

Author

Listed:
  • Tom Benton
  • David Hand
  • Martin Crowder

Abstract

Given only a random sample of observations, the usual estimator for the population mean is the sample mean. If additional information is provided it might be possible in some situations to obtain a better estimator. The situation considered here is when the variable whose mean is sought is composed of factors that are themselves observable. In the basic case, the variable can be expressed as the product of two, independent, more basic variables, but we also consider the case of more than two, the effect of correlation, and when there are observation costs.

Suggested Citation

  • Tom Benton & David Hand & Martin Crowder, 2004. "Two zs are Better than One," Journal of Applied Statistics, Taylor & Francis Journals, vol. 31(2), pages 239-247.
    • Handle: RePEc:taf:japsta:v:31:y:2004:i:2:p:239-247
    DOI: 10.1080/0266476032000148894
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