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A Strategy For Using Bias And Rmse As Outcomes In Monte Carlo Studies In Statistics, Michael Harwell
A Strategy For Using Bias And Rmse As Outcomes In Monte Carlo Studies In Statistics, Michael Harwell
Journal of Modern Applied Statistical Methods
To help ensure important patterns of bias and accuracy are detected in Monte Carlo studies in statistics this paper proposes conditioning bias and root mean square error (RMSE) measures on estimated Type I and Type II error rates. A small Monte Carlo study is used to illustrate this argument.