Hello Poy and welcome,
First of all the concentration of masterbatch depends on the manufacturer (chemicals used), the particular base polymer (PVC, PE, XLPE and so on.) and on the the particular color in question.
Secondly there must be a standard for the color that you are trying to achieve.
Generally speaking, companies develop color concentrate % weight recipes against that color standard by experimentation with a laboratory extruder. This is done by laboratory technicians or process engineers under controlled conditions.
Then the color concentrate is added with a gravimetric mixer (In a modern plant) at the extruder on the production floor.
Regards,
Peter J. Stewart-Hay
Principal
Stewart-Hay Associates
www.Stewart-Hay.com