MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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Alex collects data for the Australian Bureau of Statistics. His boss asks him to do a cost benefit
analysis of collecting a random sample for a sample mean that is three times the size of the original
sample. Which of the following is a truthful statement Alex could say to his boss?
O Increasing the sample size increases the volatility so it can't be worthwhile
O No matter what the cost, it is worthwhile getting extra data because it lowers the variance of the sample mean
OIf enough data is collected, it will become clear that the original data (not the sample mean) is Normally
distributed
O None of the answers are correct
Transcribed Image Text:Alex collects data for the Australian Bureau of Statistics. His boss asks him to do a cost benefit analysis of collecting a random sample for a sample mean that is three times the size of the original sample. Which of the following is a truthful statement Alex could say to his boss? O Increasing the sample size increases the volatility so it can't be worthwhile O No matter what the cost, it is worthwhile getting extra data because it lowers the variance of the sample mean OIf enough data is collected, it will become clear that the original data (not the sample mean) is Normally distributed O None of the answers are correct
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