Equilibrium constants denote when there is a set ratio of product to reactant
That is when the amount of product (methyl oleate&water) no longer increases for a given amount of reactant(oleic acid7methanol)
In this case, it is 1.67: 1 or 1.67/1 as a ratio.
This means equilibrium is reached once (methyl oleate x water)/ (oleic acid x methanol)= 1.67
If we calculate the number of moles of each reactant/product by using the equation mol=mass/molar mass we arrive at an equilibrium ratio of 0.04:1 rather than the1.67: 1 we want.
This means that the reaction is only just beginning and there is still a lot more methyl oleate and water yet to be made.