If an unbiased estimator attains the Cram´er–Rao bound, it it said to be efficient. Estimate costs of goods or services. An efficient unbiased estimator is clearly also MVUE. 2. minimum variance among all ubiased estimators. Properties of OLS Regression Estimators in Detail Property 1: Linear. A good example of an estimator is the sample mean x, which helps statisticians to estimate the population mean, μ. random sample from a Poisson distribution with parameter . “Every successful construction project starts with a GREAT estimate!” Demand for well-qualified estimators … Confer with others about financial matters. 1. These are: 1) Unbiasedness: the expected value of the estimator (or the mean of the estimator) is simply the figure being estimated. ... can take the exposure at default to be the dependent variable and several independent variables like customer level characteristics, credit history, type of loan, mortgage, etc. (2010) proposed a new two-parameter estimator which includes the ordinary least squares (OLS) estimator, the ridge regression (RR) estimator and the Liu estimator as special case [8]. Cost Estimating is one of the most important jobs in construction. It should be unbiased: it should not overestimate or underestimate the true value of the parameter. Relative e ciency: If ^ 1 and ^ 2 are both unbiased estimators of a parameter we say that ^ 1 is relatively more e cient if var(^ 1)