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4 votes
______ is unbiased, and therefore superior to expert opinion. estimates are only as good as the underlying assumptions?

1) Expert opinion
2) Statistical analysis
3) Underlying assumptions
4) Unbiased estimates

1 Answer

5 votes

Final answer:

The correct option is 4. Unbiased estimates are superior to expert opinions because they are not influenced by personal biases. Statistical analysis is based on sample data and relies on underlying assumptions.

Step-by-step explanation:

The correct option is Unbiased estimates. Unbiased estimates are superior to expert opinions because they are not influenced by any personal biases or opinions. Instead, unbiased estimates are based on statistical analysis, which involves using sample data to make generalizations about an unknown population.

Statistical analysis, also known as inferential statistics, is a method where estimates of population parameters are made based on sample statistics. These estimates are only as good as the underlying assumptions that are made about the data and the population being studied. Expert opinions, on the other hand, may be influenced by personal biases or limited knowledge in a specific area. While experts may have a good sense of the answer, they are not necessarily immune to biases or errors in their analysis.