When is a Biased Estimator Better? A Look at Ratio Estimators

Try Voice Writer - speak your thoughts and let AI handle the grammar: https://voicewriter.io The ratio estimator is an example where a biased estimator is better than an unbiased one. Many things are ratios, eg, the view-to-like ratio for Youtube videos. While the bias can be corrected, there are good reasons not to do so, including the bias-variance tradeoff. I also demo a numerical simulation using real data from Lex Fridman's channel. 0:00 - Bias of an estimator 0:47 - Sample variance bias correction 2:32 - Ratio estimator and example 4:01 - Bias correction methods for ratio estimator 5:05 - Why not correct the bias 6:07 - Bias-variance tradeoff 7:32 - Numerical simulation