The assets (in billions of dollars) of the four wealthiest people in a particular country are 38, 27, 23, 15. Assume that samples of size n = 2are 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 samplingdistribution of the sample mean. In the table, values of the sample mean that are the same have been combined.ProbabilityProbabilityX3832.530.52726.5(Type integers or fractions.)X2523211915

Here given , The assets of four wealthiest people in particular country are 38 ,27 , 23, 15 . N =…

Answered: a. After identifying the 16 different…

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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Let's examine the mean of the numbers 1, 2, 3, 4, 5, 6, 7, and 8 by drawing samples from these values, calculating the mean of each sample, and then considering the sampling distribution of the mean. To do this, suppose you perform an experiment in which you roll an eight-sided die two times (or equivalently, roll two eight-sided dice one time) and calculate the mean of your sample. Remember that your population is the numbers 1, 2, 3, 4, 5, 6, 7, and 8. The true mean (µ) of the numbers 1, 2, 3, 4, 5, 6, 7, and 8 is , and the true standard deviation (o) is The number of possible different samples (each of size n = 2) is the number of possibilities on the first roll (8) times the number of possibilities on the second roll (also 8), or 8(8) = 64. If you collected all of these possible samples, the mean of your sampling distribution of means (µM) would equal and the standard deviation of your sampling distribution of means (that is, the standard error or ɑm) would be The following chart…
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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.