Stones in a box The objective is to estimate the number n)of fish (represented by black stones)in a pond. Capture one handful of fish(black stones). Count them and call it C. Mark the fish b out replacing the black stones with red stones. them back into the pond a Capture another handful of fish(stones). Count the total number of fish or stones (r)and the number of marked fish or white stones D) Based on this information, How to obtain a reasonable estimate of the number of fish in the pond or stones in the box? Ka-fu Wong C2007 ECON1003: Analysis of Economic Data Lesson 1-9Ka-fu Wong © 2007 ECON1003: Analysis of Economic Data Lesson1-9 Stones in a box ◼ The objective is to estimate the number (N) of fish (represented by black stones) in a pond. ◼ Capture one handful of fish (black stones). Count them and call it C. Mark the fish by replacing the black stones with red stones. Put them back into the pond. ◼ Capture another handful of fish (stones). Count the total number of fish or stones (R) and the number of marked fish or white stones (T). ◼ Based on this information, ◼ How to obtain a reasonable estimate of the number of fish in the pond or stones in the box?