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Point estimation is the application of an estimator to the data in order to learn about a certain population parameter.

9 votes

Unbiased estimator for the smaller of two random variables

This is just a couple of comments not an answer (don't have enough rep. point). (1). There is an explicit formula for the bias of the simple estimator $\min(\bar{x},\bar{y})$ here: Clark, C. E. 1961, …
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