===Gaussian distribution=== Values of MSE may be used for comparative purposes. Two or more statistical models may be compared using their MSEs as a measure of how well they explain a given set of observations: An unbiased estimator (estimated from a statistical model) with the smallest variance among all unbiased estimators is the best prediction...
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http://en.wikipedia.org/wiki/Mean_squared_error
The mean squared error of an estimator b of true parameter vector B is: MSE(b) = E[(b - B)
2] which is also MSE(b) = var(b) + (bias(b))(bias(b)') Source: Greene, 1993, p 94 Contexts: econometrics; estimation
Found on
http://www.econterms.com/glossary.cgi?query=mean+squared+error
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