The assets (in billions of dollars) of the four wealthiest people in a particular country are 38, 27, 26, 17. Assume that samples of sizen=2 are randomly selected with replacement from this population of four values. a. 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 the table, values of the sample mean that are the same have been combined. Probability Probability 38 26.5 32.5 26 32 22 27.5 21.5 27 17 (Type integers or fractions.)

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.