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Math Help - showing consistency of an estimator

  1. #1
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    showing consistency of an estimator

    I have come up with an estimator for mu in a population of prices which I call Pbar.

    I want to show that this estimate is consistent. This is what I've done:

     E [(\frac{1}{n}\sum P_i)^2] - E([\frac{1}{n}\sum P_i] )^2
    = \frac{1}{n}P^2 bar - \frac{1}{n}Pbar^2

    = \frac{P^2 bar -P bar^2} {n}

    are there any glaring mistakes here?
    Last edited by kingsolomonsgrave; October 1st 2013 at 04:42 PM.
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  2. #2
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    Re: showing consistency of an estimator

    Hey kingsolomonsgrave.

    For consistency you basically have to show that the variance goes to 0 as n -> infinity. Can you show that your variance condition (in the numerator) is finite? What distribution do you have for your P's?
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