Sampling distributionSuppose population 1 is all blue cars sold at used car auctions, and the mean sale price of all such blue cars is $24,579 with a standard deviation of $3,691. Additionally suppose population 2 is all red cars sold at used carauctions, and the mean sale price of all such red cars is $21,948 with a standard deviation of $4,028. If a simple random sample of 47 blue cars sold at used car auctions is selected and the mean sale price of the 47 blue cars in thesample is determined, and if an independent simple random sample of 59 red cars sold at used car auctions is selected and the mean sale price of the 59 red cars in the sample is determined, if appropriate describe completely thesampling distribution of X₁ - X₂6X₁-X22What is the center of the sampling distribution of26314596676.86600.714401--

Here , Suppose population 1 is all blue cars sold at used car auctions, and the mean sale price of…

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A population consists of the following 6 values: {10, 20, 30, 40, 50, 60}. A sample of size 3 will be chosen from this population without replacement and the median of the sample will be computed: { (0.5 (£n/2 + £n/2+1) m = x(n+1)/2 n odd n even In other words, in a sample of size n = 3 ordered from smallest to largest the median is the 2nd number. The median of a discrete random variable, μ, is defined as the value of such that and P(X M) ≤ 0.5 Determine the median of the population. Think of the population as an equally likely sample space. Determine the sampling distribution of the sample median, m for this population by (1) identifying all possible samples (how many are there?), (2) calculating the median in each sample and (3) using that to determine the probability of each median. Calculate E (m) Determine the standard error or the sample median
The assets (in billions of dollars) of the four wealthiest people in a particular country are 41, 25, 19, 14. Assume that samples of size n = 2 are randomly selected with replacement from this population of four values. each sample, construct a table representing the sampling distribution of the sample mean. In the table, values of the sample mean that are the same have been combined. X 41 33 30 27.5 25 (Type integers or fractions.) Probability The mean of the population, sample means, (Round to two decimal places as needed.) b. Compare the mean of the population to the mean of the sampling distribution of the sample mean. means is The sample means 22 19.5 19 16.5 14 Probability c. Do the sample means target the value of the population mean? In general, do sample means make good estimates of population means? Why or why not? the mean of the the population mean. In general, sample make good estimates of population means because the mean is estimator.
Suppose that a simple random sample of n = 2 numbers will be selected from the list of values 10, 12, 14, 16, 18. (a) There are ten possible equally likely samples of n 2 numbers that could be selected (10 and 12, 10 and 14, etc.). Calculate the sample mean for each sample. = Sample 10, 12 Sample 12, 16 I 10, 14 12, 18 10, 16 14, 16 10, 18 12, 14 14, 18 16, 18 (b) Summarize the results of part (a) into a table showing the sampling distribution of possible sample means. To do this, list each possible value for the sample mean along with the probability the value would occur. (Enter your answers from smallest to largest value for the sample mean.) Probability
5. Suppose X is the number of successes in a random sample of size n from a large population with a proportion of success p. What are the mean and the standard deviation of the sampling distribution of X in terms of n and p? The mean is p(l-pland the standard deviation is p(1-p) b. The mean is npand the standard deviation is ap(1-p). The mean is p(1-pland the standard deviation is pp. C. d. The mcan is 7pand the standard deviation is rp.
The assets (in billions of dollars) of the four wealthiest people in a particular country are 40, 29, 16, 13. Assume that samples of size n = 2 are randomly selected with replacement from this population of four values. a. After identifying the 16 different possible samples and finding the mean of each sample, construct a table representing the sampling distribution of the sample mean. In the table, values of the sample mean that are the same have been combined. Probability Probability X 40 34.5 29 28 26.5 (Type integers or fractions.) Save 4 X 22.5 21 16 14.5 13

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6 What is the center of the sampling distribution of 1-X22