The value of an inventory is to be estimated by sampling. The items are stratified by book value…

The value of an inventory is to be estimated by sampling. The items are stratified by book value in the following way:

a. What should the relative sampling fraction in each stratum be for proportional and for optimal allocation? Ignore the finite population correction.

b. How do the variances under each type of allocation compare to each other and to the variance under simple random sampling?

 

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