1. World's Richest. Each year,Forbes magazine publishes a list of the world's richest people. In2009, the six richest people, their citizenship, and their wealth (to the nearest billion dollars)NameCitizenshipWealth ($ billion)Willlam Gate (G)Warren Buffett (B)Carlos Slim Helu (H)Lawrence Ellison (E)Karl Albrecht (A)United States40United States38Мexico35United States23Sweden22Ingvar Kamprad (K)Germany22Calculate the mean wealth, µ, of the six people.а.b.For samples of size 2, construct a table and calculate the means for samples of size 2.С.For a random sample of size 2, what is the chance that the sample mean will equal thepopulation mean?d. For a random sample of size 2, determine the probability that the mean wealth of the twopeople obtained will be within 2 (i.e., $2 billion) of the population mean. Interpret your result interms of percentages.

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1. World's Richest. Each year, Forbes magazine publishes a list of the world's richest people. In 2009, the six richest people, their citizenship, and their wealth (to the nearest billion dollars) ame Citizenship Wealth ($ billion) illlam Gate (G) United States 40 arren Buffett (B) arlos Slim Helu (H) wrence Ellison (E) arl Albrecht (A) gvar Kamprad (K) United States 38 Мexico 35 United States 23 Sweden 22 Germany 22

1. World's Richest. Each year, Forbes magazine publishes a list of the world's richest people. In 2009, the six richest people, their citizenship, and their wealth (to the nearest billion dollars) ame Citizenship Wealth ($ billion) illlam Gate (G) United States 40 arren Buffett (B) arlos Slim Helu (H) wrence Ellison (E) arl Albrecht (A) gvar Kamprad (K) United States 38 Мexico 35 United States 23 Sweden 22 Germany 22

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

ChapterP: Prologue: Calculator Arithmetic

Section: Chapter Questions

Problem 2E: Pet Owners According to the Humane Society, in 2015, 65% of U.S. households owned at least one pet,...

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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

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1. World's Richest. Each year,
Forbes magazine publishes a list of the world's richest people. In
2009, the six richest people, their citizenship, and their wealth (to the nearest billion dollars)
Name
Citizenship
Wealth ($ billion)
Willlam Gate (G)
Warren Buffett (B)
Carlos Slim Helu (H)
Lawrence Ellison (E)
Karl Albrecht (A)
United States
40
United States
38
Мexico
35
United States
23
Sweden
22
Ingvar Kamprad (K)
Germany
22
Calculate the mean wealth, µ, of the six people.
а.
b.
For samples of size 2, construct a table and calculate the means for samples of size 2.
С.
For a random sample of size 2, what is the chance that the sample mean will equal the
population mean?
d. For a random sample of size 2, determine the probability that the mean wealth of the two
people obtained will be within 2 (i.e., $2 billion) of the population mean. Interpret your result in
terms of percentages.

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