Minimum-variance unbiased estimator

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Minimum-variance unbiased estimator

In statistics a uniformly minimum-variance unbiased estimator or minimum-variance unbiased estimator (UMVUE or MVUE) is an unbiased estimator that has lower variance than any other unbiased estimator for all possible values of the parameter.For practical statistics problems, it is important to determine the UMVUE if one exists, since less-than-optimal procedures would naturally be avoided, other things being equal.

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