I recently came upon this semi-opened ended question and wanted to think through it with you guys.
You have 5 measurements from 5 different thermometers, which are unbiased, but each with a different variance. Out of those measurements, how would you ensure that you measure the oven temperatures most accurately?
I personally would take each thermometer and take the temperature $X$ number of times, lets say 40 times (total of $40*5$ times). Then I would calculate the sample $\mu$ and sample $\sigma$ and simulate a normal distribution for each thermometer.
If I see that the measurements are normally distributed, I would use the thermometer with the lowest variance.
I feel like my answer might be too simple and I'm wondering if I should go about it a different way.
This is related to what is usually called data validation or data reconciliation (have a look here).
The most probable value is given by $$\widehat{T}=\left(\sum_{i=1}^n \frac {T_i}{\sigma_i^2}\right)\left(\sum_{i=1}^n \frac {1}{\sigma_i^2}\right)^{-1}$$