For a cooking oil company, the price they are paid for coconuts in large shipments is based on the amount of coconut extract from the load. Therefore, there is a need to determine the amount of coconut extract in the whole load prior to extraction. A sample of n coconut can be taken and find y1, . . . , yn , the amount of coconut extract in these coconuts. Ny is hard to get in this case because N is hard to count. How can the total amount of coconut extract from a load shipment be measured? Using the total weight would be a good idea and easy to obtain. The relationship between the weight of the l
For a cooking oil company, the price they are paid for coconuts in large shipments is based on the amount of coconut extract from the load. Therefore, there is a need to determine the amount of coconut extract in the whole load prior to extraction. A sample of n coconut can be taken and find y1, . . . , yn , the amount of coconut extract in these coconuts.
Ny is hard to get in this case because N is hard to count. How can the total amount of coconut extract from a load shipment be measured? Using the total weight would be a good idea and easy to obtain. The relationship between the weight of the load and the weight of the coconut extract one obtains can be used. As it turns out, 15 coconuts selected by simple random sampling were weighed and also extracted. The total weight of the coconut shipment was found to be 900 kg. Given these results (below):
look at the table (pic)
Question:
- How accurate is the result of using a ratio estimate (compute the variance of your ratio estimate)?
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