The assets (in billions of dollars) of the four wealthiest people in a particular country are 41, 26, 22, 16. 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.ProbabilityProbabilityX4133.531.528.526(Type integers or fractions.)***X2422211916

N = {41, 26 , 22 , 16} n= sample size = 2 Here total possible sample of size 2 = Nn = 42 = 16

Answered: *** a. After identifying the 16…

A First Course in Probability (10th Edition)

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Chapter1: Combinatorial Analysis

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Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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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.