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Estimating the average family income

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Does strati?cation help in estimating the average family income? From a simple random sample of size 400, estimate the average income and also the standard error of your estimate. Form a 95% con?dence interval. Next, allocate the 400 observations proportionally to the four regions and estimate the average income from the strati?ed sample. Estimate the standard error and form a 95% con?dence interval. Compare your results to the results of the simple random sample.

Reference no: EM132464245

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