Suppose that you have a four-sided die that is equally weighted (i.e. equal chance of any of the four sides landing face up). The four values on the die are [12.5968, 2, -2 and -12.5968] . If we roll the die 81 times, record the average, and repeat this process a total of 100 times, what does the central limit theorem predict will be the mean of the set of averages? a) 0 b) 12.59 c) 1.23 d) 5.72
Suppose that you have a four-sided die that is equally weighted (i.e. equal chance of any of the four sides landing face up). The four values on the die are [12.5968, 2, -2 and -12.5968] . If we roll the die 81 times, record the average, and repeat this process a total of 100 times, what does the central limit theorem predict will be the mean of the set of averages? a) 0 b) 12.59 c) 1.23 d) 5.72
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Suppose that you have a four-sided die that is equally weighted (i.e. equal chance of any of the four sides landing face up). The four values on the die are [12.5968, 2, -2 and -12.5968] . If we roll the die 81 times, record the average, and repeat this process a total of 100 times, what does the central limit theorem predict will be the mean of the set of averages?
| a) |
0 |
|
| b) |
12.59 |
|
| c) |
1.23 |
|
| d) |
5.72 |
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON