National income from manufacturing industries is to be

National income from manufacturing industries is to be estimated for 1989 from a sample of 6 of the 19 industry categories that reported figures early for that year. Incomes from all 19 industries are known for 1980 and the total is $674 billion. From the data provided, estimate the total national income from manufacturing in 1989, with a bound on the error. All figures are in billions of constant (1982) dollars.

a. Find a ratio estimator of the 1989 total income, and place a bound on the error of estimation.

b. Find a regression estimator of the 1989 total income, and place a bound on the error of estimation.

c. Find a difference estimator of the 1989 total income, and place a bound on the error of estimation.

d. Which of the three methods, parts (a), (b), or (c), is most appropriate in this case? Why?

 

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