An Efficient Variant of Ranked Set Sampling, Probability Proportional to Size with Application to Economic Data

Abstract

In this paper, we apply the Ranked Set Sampling (RSS) technique to economic data in the form of homescan market research data set for the meat food group. The RSS method is then extended to select sampling units based on the Probability-Proportional-to-Size (PPS) approach. The new proposed ranked set sampling, using the PPS-derived method, RPPS, is assessed via Monte Carlo investigations and an extensive homescan data set to evaluate its performances. The results are promising and in line with theoretical and simulation studies, showing that the RPPS technique is more reliable and has a smaller variance than the PPS route.