Journal of Official Statistics, Vol.14, No.2, 1998. pp. 163–179
Estimating the Sampling Variance of the UK Index of Production
Abstract:One of the main economic indicators produced by United Kingdom's Office for National
Statistics is the Index of Production. It is a monthly index of the total volume of industrial
output obtained by combining estimates from a number of survey sources. The purpose of
this article is to construct an estimator of the sampling variance of the Index of Production.
This variance estimator is obtained by linear approximation methods. The parametric boot-
strap is employed to assess the adequacy of approximation made when deriving the variance
estimator. Some of the advantages of using the parametric bootstrap to estimate the variance
are briefly described. Both estimators have the advantage that they do not require revision
whenever the methodology of any of the surveys is changed.
Keywords:Sampling error; nonsampling error; parametric bootstrap.
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