ABSTRACT
During auctions, farmers bring bales of wool fiber to the Australian marketplace and hope to get a good price which largely depends on the fiber diameter (X). Buyers normally pay a higher price for wool with smaller fiber diameter. Prior to auction every lot made up of wool receives a tag displaying the mean and the coefficient of variation (standard deviation/mean) of the fiber diameter X. Usually, buyers get a sense of the quality or "fineness" of wool sample by looking at the mean and the coefficient of variation of the fiber diameter.
