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In accounting and auditing, the following sampling method is sometimes used to estimate a population total. In estimating the value of an inventory,suppose that a book value exists for each item and is readily accessible. For each item in the sample, the difference D,audited value minus book value, is determined. The inventory value is estimated by the sum of book values of population and N-D, where N is population size at top ,D at bottom
a) show that the estimate is unbiased
b) Find an expression for the variance of the estimate
c) Compare the expression obtained in part b to the variance of usual estimate , which is the product of N and the average audited value. Under what circumstances would the proposed method be more accurate?
d) How could a ratio estimate be employed in this situation? Would there be any advantage or disadvantage to using ratio estimate rather than the proposed method?
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Company are interested in how a new spaghetti sauce made from green tomatoes (and green in color) will compare to their traditional red spaghetti sauce. They are worried that the green color will adversely affect the tastiness scores.
In government data, a household consists of all occupants of a dwelling unit, while a family consists of two or more persons who live together and are related by blood or marriage. So all families form households, but some households are not famil..
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