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Sales ($ millions) Number of entrepreneurs 0-1 2000 1-10 200 10-100 20 We want to estimate the average sales of a population of entrepreneurs. This
Sales ($ millions) | Number of entrepreneurs |
0-1 | 2000 |
1-10 | 200 |
10-100 | 20 |
We want to estimate the average sales of a population of entrepreneurs. This population has been divided into 3 strata according to their prior sales. We want to select a sample size of 222. Assume a uniform distribution of sales within each stratum. (a) Estimate the average sales with a 95% confidence interval for a stratified design with proportional allocation. (b) Repeat (a) with an optimal stratified Neyman design.
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