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consistent estimator

an estimator calculated from sample data whose value becomes more and more representative of the true quantity in the larger population as the sample size increases. That is, a consistent estimator is one for which larger samples result in a reduction of bias. An example is the mean: As the size of the sample from which it is calculated increases, the obtained value more closely approximates the actual value in the population it is intended to represent.

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Psychology term of the day

February 11th 2025

personal probability

personal probability

see subjective probability.