Students in the population of all students taking E270 were asked to state how much they spent on textbooks in the current semester. There are N = 320 students taking E270. From the data collected the following summary measures were calculated. ∑x = 161,000 ∑(x − μ)² = 4,564,675 A random sample of 5 students selected from this population, yielded the following sample data: x 330 380 690 460 530 1 The sample mean is ________. A 469 B 472 C 475 D 478 2 The sample variance is ________., A 15896 B 17152 C 19870 D 20526 3 The number of samples of size n = 5 selected from this population is ________. A 27.098 billion B 26.285 billion C 25.496 billion D 24.731 billion 4 If you listed all possible samples and computed the mean from each sample, the mean of sample means is _________. A 478.000 B 486.030 C 494.196 D 503.125 5 If you listed all possible samples and computed the mean from each sample, the variance of the means is ________. A 3974 B 2852.92 C 8886.13 D 19870

Students in the population of all students taking E270 were asked to state how much they spent on textbooks in the current semester. There are N = 320 students taking E270. From the data collected the following summary measures were calculated. ∑x = 161,000 ∑(x − μ)² = 4,564,675 A random sample of 5 students selected from this population, yielded the following sample data: x 330 380 690 460 530 1 The sample mean is ____. A 469 B 472 C 475 D 478 2 The sample variance is ., A 15896 B 17152 C 19870 D 20526 3 The number of samples of size n = 5 selected from this population is . A 27.098 billion B 26.285 billion C 25.496 billion D 24.731 billion 4 If you listed all possible samples and computed the mean from each sample, the mean of sample means is _. A 478.000 B 486.030 C 494.196 D 503.125 5 If you listed all possible samples and computed the mean from each sample, the variance of the means is ____. A 3974 B 2852.92 C 8886.13 D 19870

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Questions 1-5 are related to the following
Students in the population of all students taking E270 were asked to state how much they spent on textbooks in the current semester. There are N = 320 students taking E270. From the data collected the following summary measures were calculated.

			∑x =	161,000
			∑(x − μ)² =	4,564,675

A random sample of 5 students selected from this population, yielded the following sample data:

		x
		330
		380
		690
		460
		530

1	The sample mean is ________.
A	469
B	472
C	475
D	478

2	The sample variance is ________.,
A	15896
B	17152
C	19870
D	20526

3	The number of samples of size n = 5 selected from this population is ________.
A	27.098	billion
B	26.285	billion
C	25.496	billion
D	24.731	billion

4	If you listed all possible samples and computed the mean from each sample, the mean of sample means is _________.
A	478.000
B	486.030
C	494.196
D	503.125

5	If you listed all possible samples and computed the mean from each sample, the variance of the means is ________.
A	3974
B	2852.92
C	8886.13
D	19870

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