Abstract:

This study has been considered the estimation of population mean and population variance based on the Ranked Set Sampling method. The application of a Ranked Set Sampling method has been illustrated by a real data from insurance field. Ranked Set Sampling method has been a better method compared to Simple Random Sampling Method. This situation has been investigated experimentally with the simulation study performed with real data and simulated data. According to the simulation results, in the estimation of the population mean, Ranked Set Sampling method has been found to be more effective method than Simple Random Sampling. In the estimation of population variance, the estimator based on Ranked Set Sampling proposed by MacEachern at all has had better performance than Strokes’ estimator and traditional variance estimator based on Simple Random Sampling.

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