Study Notes: Sample Moments

Chapter 5. Sample Moments Study Notes contains 28 pages covering the following learning objectives:

* Estimate the mean, variance, and standard deviation using sample data.

* Explain the difference between a population moment and a sample moment.

* Distinguish between an estimator and an estimate.

* Describe the bias of an estimator and explain what the bias measures.

* Explain what is meant by the statement that the mean estimator is BLUE.

* Describe the consistency of an estimator and explain the usefulness of this concept.

* Explain how the Law of Large Numbers (LLN) and Central Limit Theorem (CLT) apply to the sample mean.

* Estimate and interpret the skewness and kurtosis of a random variable.

* Use sample data to estimate quantiles, including the median.

* Estimate the mean of two variables and apply the CLT.

* Estimate the covariance and correlation between two random variables.

* Explain how coskewness and cokurtosis are related to skewness and kurtosis.

After reviewing these notes on Sample Moments, you will be able to apply what you learned with practice questions.

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