The data in the table represent the wealth, in billions of dollars, of six people. Use the data to answer questions (a) through(e).(Assume that sampling is without replacement.)GELEID1929 2221 2022 DThe probability is(Round to three decimal places as needed. Use the answers from part (a) and part (b) to find this answer.)(Round to three decimal places as needed. Use the answers from part (a) and part (b) to find this answer.)e. For a random sample of size 5, determine the probability that the mean wealth of the five people obtained will be within 1 ($1 billion) of thepopulation mean. The data in the table represent the wealth, in billions of dollars, of six people. Use the data to answer questions (a) through(e).(Assume that sampling is without replacement.)d. For a random sample of size 5, what is the chance that the sample mean will equal the population mean?AThe probability is(Round to three decimal places as needed. Use the answers from part (a) and part (b) to find this answer.)19 2229 2221 20e. For a random sample of size 5, determine the probability that the mean wealth of the five people obtained will be within 1 ($1 billion) of thepopulation mean.

Answered: The data in the table represent the…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding.The National Council of Small Businesses is interested in the proportion of small businesses that declared Chapter 11 bankruptcy last year. Since there are so many small businesses, the National Council intends to estimate the proportion from a random sample. Let p be the proportion of small businesses that declared Chapter 11 bankruptcy last year. (a) If no preliminary sample is taken to estimate p, how large a sample is necessary to be 95% sure that a point estimate p̂ will be within a distance of 0.09 from p? (Round your answer up to the nearest whole number.) small businesses(b) In a preliminary random sample of 30 small businesses, it was found that six had declared Chapter 11 bankruptcy. How many more small businesses should be included in the sample to be 95% sure that a point estimate p̂ will be within a distance of 0.090 from p? (Round your answer…
Hello Sir.Good Evening. I have a question in my home work related Statistics lesson. The following below is my question.Please advise and Thank you so much. "A population consists of N elements X1... X2... X2... to investigate the characteristics of the population, a randomly selected sample of n elements, X1... X2... X3... .How many samples can be obtained from the population if N=3, n= 2 ? if N=10, and n=3 ?"
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