The Economics of Sample Size Applied to the Scaling of Sawlogs

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Abstract
On the national forests payment for sale of timber is based on measurement (scaling) of the logs cut. Instead of measuring all the logs, a sample may be used. Assuming payment for the sampling by the purchaser on the basis of only a single transaction, a solution to the problem is presented in which the reduction in the limit of error in monetary units is equal to the marginal increase in the cost of sampling.

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