Please answer option C
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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Question
Please answer option C
Transcribed Image Text:The assets (in billions of dollars) of the four wealthiest people in a particular country are 40, 29, 17, 10. 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.
X
40
34.5
29
28.5
Probability
1
16
2
16
1
16
2
16
The mean of the population, 24, is
(Round to two decimal places as needed.)
X
23
The sample means
population means because the mean is
19.5
17
13.5
Probability
2
16
10
2
16
1
16
2
25
16
(Type integers or fractions.)
b. Compare the mean of the population to the mean of the sampling distribution of the sample mean.
equal to the mean of the sample means, 24.
2
16
1
16
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 population mean. In general, sample means
estimator.
make good estimates of
Expert Solution
Step 1
The sample mean is used when the mean is computed by using only a sample of data while the population mean is computed by using every observation in the entire population.
The sample mean is denoted by the symbol or x-bar. On the other hand, the population mean is denoted b the symbol .
The sample mean is an unbiased estimator of the population mean.
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