§ 29. Sir W. Smithersasked the Minister of Food if he will define and explain the expression used by his Department, "estimated weighted cost" of various commodities under the current import programme.
§ Mr. StracheyThe weighted average cost per unit of an imported commodity is obtained by dividing the total cost by the total quantity, taking into account the different unit price paid according to source.
§ Sir W. SmithersIs it not a fact that these nebulous expressions are only a method of hiding up the Minister's policy of bulk purchase, which means national bankruptcy and starvation?
§ Mr. StracheyThe hon. Member cannot be familiar with the very usual statistical term "a weighted average." I think he should look it up— in any reference book.