The assets (in billions of dollars) of the four wealthiest people in a particular country are 28, 26, 18, 14. 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. F X 28 27 26 23 Probability X 21 20 18 16 14 Probability 22 (Type integers or fractions.) b. Compare the mean of the population to the mean of the sampling distribution of the sample mean. The mean of the population, is equal to the mean of the sample means, (Round to two decimal places as needed.) 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 sample means target the population mean. In general, sample means do not make good estimates of population means because the mean is a biased estimator. LITO CÚPLA (A) www Next B

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The assets (in billions of dollars) of the four wealthiest people in a particular country are 28, 26, 18, 14. 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.
6
X
28
27
26
23
Probability
X
21
20
18
16
14
E
Probability
22
(Type integers or fractions.)
b. Compare the mean of the population to the mean of the sampling distribution of the sample mean.
The mean of the population, is equal to the mean of the sample means,
(Round to two decimal places as needed.)
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 sample means target the population mean. In general, sample means do not make good estimates of
population means because the mean is
a biased
estimator.
COPLA
A
ww
Next
Transcribed Image Text:The assets (in billions of dollars) of the four wealthiest people in a particular country are 28, 26, 18, 14. 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. 6 X 28 27 26 23 Probability X 21 20 18 16 14 E Probability 22 (Type integers or fractions.) b. Compare the mean of the population to the mean of the sampling distribution of the sample mean. The mean of the population, is equal to the mean of the sample means, (Round to two decimal places as needed.) 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 sample means target the population mean. In general, sample means do not make good estimates of population means because the mean is a biased estimator. COPLA A ww Next
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