The assets (in billions of dollars) of the four wealthiest people in a particular country are 39, 33, 29, 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. Probability 1 Probability 1 29 16 39 16 36 2 36 24.5 16 2 34 21.5 16 1 33 19.5 16 31 2 16 10 10 -22 2016 16 16 (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 (Round to two decimal places as needed.) the mean of the sample means,

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
The assets (in billions of dollars) of the four wealthiest people in a particular country are 39, 33, 29, 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.
Probability
1
22
Probability
1
29
39
16
16
2
2
24.5
36
16
16
2
2
34
21.5
16
16
2
1
19.5
33
16
16
31
37
2
16
10
10
1
16
(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
the mean of the sample means,
(Round to two decimal places as needed.)
x
G
More
Transcribed Image Text:The assets (in billions of dollars) of the four wealthiest people in a particular country are 39, 33, 29, 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. Probability 1 22 Probability 1 29 39 16 16 2 2 24.5 36 16 16 2 2 34 21.5 16 16 2 1 19.5 33 16 16 31 37 2 16 10 10 1 16 (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 the mean of the sample means, (Round to two decimal places as needed.) x G More
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 5 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman