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Make an educated guess of whether the sample mean and sample standard deviation for the 14 observations would increase,decrease or remain roughly the same compared to your answer in part (c) based on only 7 observations. How actually calculate the sample mean standard deviation to see if you were right. How does your calculation compare to your educated guess? Why does your calculation compare to your educated guess? Why do you think this is?

Make an educated guess of whether the sample mean and sample standard deviation for the 14 observations would increase,decrease or remain roughly the same compared to your answer in part (c) based on only 7 observations. How actually calculate the sample mean standard deviation to see if you were right. How does your calculation compare to your educated guess? Why does your calculation compare to your educated guess? Why do you think this is?

Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter2: Mathematics For Microeconomics
Section: Chapter Questions
Problem 2.16P
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Make an educated guess of whether the sample mean and sample standard deviation for the 14 observations would increase,decrease or remain roughly the same compared to your answer in part (c) based on only 7 observations. How actually calculate the sample mean standard deviation to see if you were right. How does your calculation compare to your educated guess? Why does your calculation compare to your educated guess? Why do you think this is?
Transcribed Image Text:Make an educated guess of whether the sample mean and sample standard deviation for the 14 observations would increase,decrease or remain roughly the same compared to your answer in part (c) based on only 7 observations. How actually calculate the sample mean standard deviation to see if you were right. How does your calculation compare to your educated guess? Why does your calculation compare to your educated guess? Why do you think this is?
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