On Variance Estimation With Applications in Engineering

In many fields of engineering, researchers are often interested in analyzing the variation in the values of certain variables such as airtime, tensile strength, air quality, and temperature. In the case of large population sizes, such fluctuations are estimated by observing a small sample from the population of interest and estimating the variance using the sample data. This paper introduces an improved estimator of the population variance by utilizing auxiliary information. Various properties of the suggested variance estimator have been studied. Additionally, to demonstrate the efficiency of the suggested variance estimator, a real‐life data set on airflight time has been used. The comparative analysis suggests that the suggested variance estimator performs better than the competitor variance estimators which makes it the best estimator for real‐world application.