mean-value estimation (MM-IM) |
An extrapolation procedure used in inventory sampling.
In the mean-value estimation procedure, a mean value is formed for each stratum from the inventory adjustment postings. The estimate for the stratum is obtained by multiplying this mean value by the number of stratum elements.
The sum of the estimated values for each stratum and the values of the inventory adjustment postings of the complete-count area yield the estimated value for the entire stock population.