The assets (in billions of dollars) of the four wealthiest people in a particular country are46, 26, 23, 13.Assume that samples of sizen=2are 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. xProbability xProbability46nothing 24.5nothing36nothing 23nothing34.5nothing 19.5nothing29.5nothing 18nothing26nothing 13nothing(Type integers or fractions.)b. Compare the mean of the population to the mean of the sampling distribution of the sample mean. The mean of the population,nothing,is▼ greater thanless thanequal tothe mean of the sample means,nothing.(Round to two decimal places as needed.)c. Do the sample means target the value of the population mean? In general, do sample means make good estimates of population means? Why or why not? The sample means▼ do not targettargetthe population mean. In general, sample means▼ do notdomake good estimates of population means because the mean is▼ an unbiaseda biasedestimator.

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Description: The assets (in billions of dollars) of the four wealthiest people in a particular country are46, 26, 23, 13.Assume that samples of sizen=2are randomly selected with replacement from this population of four values.a. After identifying the 16 differe

The table below shows the sample with the sample mean- Sample Sample mean Sample Sample mean…

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Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.4: Collecting Data

Problem 6E

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The assets (in billions of dollars) of the four wealthiest people in a particular country are

46, 26, 23, 13.

Assume that samples of size

n=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.

x	Probability	x	Probability
46	nothing	24.5	nothing
36	nothing	23	nothing
34.5	nothing	19.5	nothing
29.5	nothing	18	nothing
26	nothing	13	nothing

(Type integers or fractions.)

b. Compare the mean of the population to the mean of the sampling distribution of the sample mean.

The mean of the population,

nothing,

▼

greater than

less than

equal to

the mean of the sample means,

nothing.

(Round to two decimal places as needed.)

c. Do the sample means target the value of the population mean? In general, do sample means make good estimates of population means? Why or why not?

The sample means

▼

do not target

target

the population mean. In general, sample means

▼

do not

make good estimates of population means because the mean is

▼

an unbiased

a biased

estimator.

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