What is the efficiency of this sample mean, relative to what could have been obtained from the whole sample?
A researcher is interested in estimating the mean of a large population and gathers a random sample of 429 observations, but loses the records of the last 60. Thus only 369 observations are available for calculating the sample mean. What is the efficiency of this sample mean, relative to what could have been obtained from the whole sample? The relative efficiency is defined here using the larger variance in the numerator. Round off your answer to two decimal places.
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