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9-34 (LO 9-7) Ratio estimation and difference estimation are two widely used variables sampling plans. Required: Under what conditions are ratio estimation or difference estimation

9-34 (LO 9-7) Ratio estimation and difference estimation are two widely used variables sampling plans.

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Under what conditions are ratio estimation or difference estimation appropriate sampling plans for estimating the total dollar value of a population? What relationship determines which of these two plans will be most efficient in a particular situation?

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