The assets (in billions of dollars) of the four wealthiest people in a particular country are 35, 34, 16, 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. Probability X 24.5 24 C 16 15 14 x 35 34.5 34 25.5 25 (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, i IS the mean of the sample means. Probability

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K
The assets (in billions of dollars) of the four wealthiest people in a particular country are 35, 34, 16, 14. Assume that
samples of size n=2 are randomly selected with replacement from this population of four values.
crunch
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
35
34.5
45
☐ de in
t
Probability
34
25.5
25
(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,
the mean of the sample means,
g
f(x)
M
10
y
h
IS
Ili
X
24.5
24
16
15
14
&
7
COD
u
C
Probability
8
se
Transcribed Image Text:K The assets (in billions of dollars) of the four wealthiest people in a particular country are 35, 34, 16, 14. Assume that samples of size n=2 are randomly selected with replacement from this population of four values. crunch 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 35 34.5 45 ☐ de in t Probability 34 25.5 25 (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, the mean of the sample means, g f(x) M 10 y h IS Ili X 24.5 24 16 15 14 & 7 COD u C Probability 8 se
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