Efficiency (statistics)

In the comparison of various statistical procedures, efficiency is a measure of quality of an estimator, of an experimental design, or of a hypothesis testing procedure. Essentially, a more efficient estimator, experiment, or test needs fewer observations than a less efficient one to achieve a given performance. This article primarily deals with efficiency of estimators. An efficient estimator is characterized by a small variance or mean square error, indicating that there is a small deviance between the estimated value and the "true" value.

Efficiency (statistics)

In the comparison of various statistical procedures, efficiency is a measure of quality of an estimator, of an experimental design, or of a hypothesis testing procedure. Essentially, a more efficient estimator, experiment, or test needs fewer observations than a less efficient one to achieve a given performance. This article primarily deals with efficiency of estimators. An efficient estimator is characterized by a small variance or mean square error, indicating that there is a small deviance between the estimated value and the "true" value.