World's Richest. Each year,Forbes magazine publishes alist of the world's richest people. In 2009, the sixrichestpeople,theircitizenship, andtheir wealth (to thenearest billion dollars) are as shown in the following table. Consider these five people a population of interest. Wealth ($ billion) | Name |William Gates III (G) |Warren Buffett (B) Carlos Slim Helu (H) Lawrence Ellison (E) | Ingvar Kamprad (K) 40 38 35 23 22

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need help in part d,e anf f

World's Richest. Each year, Forbes magazine publishes alist of the world's richest
people. In 2009, the sixrichestpeople,their citizenship, andtheir wealth (to the nearest
billion dollars) are as shown in the following table. Consider these five people a
population of interest.
Wealth ($ billion)
Name
William Gates III (G)
Warren Buffett (B)
Carlos Slim Helu (H)
Lawrence Ellison (E)
Ingvar Kamprad (K)
40
38
35
23
22
a. Find the mean, µ, of the variable.
b. For each of the possible samplesizes 2, 3, 4 construct a table and draw a dotplot for
the sampling distribution of the sample mean
c. Construct a graph and interpret your results.
d. For each of the possible sample sizes, find the point estimator and determine the
probability that the sample mean will equal the population mean.
e. For each of the possible samplesizes, find the interval estimators and detemine the
probability that the sample mean will be within o.5 inch of population mean.
f. Construct a table and interpret your results.
Transcribed Image Text:World's Richest. Each year, Forbes magazine publishes alist of the world's richest people. In 2009, the sixrichestpeople,their citizenship, andtheir wealth (to the nearest billion dollars) are as shown in the following table. Consider these five people a population of interest. Wealth ($ billion) Name William Gates III (G) Warren Buffett (B) Carlos Slim Helu (H) Lawrence Ellison (E) Ingvar Kamprad (K) 40 38 35 23 22 a. Find the mean, µ, of the variable. b. For each of the possible samplesizes 2, 3, 4 construct a table and draw a dotplot for the sampling distribution of the sample mean c. Construct a graph and interpret your results. d. For each of the possible sample sizes, find the point estimator and determine the probability that the sample mean will equal the population mean. e. For each of the possible samplesizes, find the interval estimators and detemine the probability that the sample mean will be within o.5 inch of population mean. f. Construct a table and interpret your results.
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