Statistics, prob, etc.
I have this one problem for now. I am looking for some one who I can contact through phone call to talk further help also if permitted. Let me know.
This is the problem I'm on now. Please answer in twenty minutes.
Can you please solve this and provide the steps as to how you got this answer. If using Excel 2010 or TI 83, please provide steps as to how you entered and what you entered to get your answer.
The assets (in billions of dollars) of the four wealthiest people in a particular
country are: 39,25,12,10. Assume that samples of size n=2 are randomly selected with replacement from this population of four values.
.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 thetable, values
of the sample mean that are the same have been combined. (Use integers or
fractions)
x | probability |
39 |
|
32 |
|
25.5 |
|
25 |
|
24.5 |
|
18.5 |
|
17.5 |
|
12 |
|
11 |
|
10 |
|
|
|
b. Compare the mean of the
population to the mean of the sampling distribution of the sample mean.
The mean of the population is ____ ?(=, >, <) to the sample means, ____.
At least one of your answers is incorrect. Recall that the mean of a set of data is the measure of center found by adding the data values and dividing the total by the number of data values. The mean of the sampling distribution, or the mean of all possible sample means, is ∑[x*P(x)], where x is each distinct mean and P(x) is the
corresponding probability. ((Round to two
decimal places as needed.)
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