The assets in billions of dollars of the four wealthiest peo

The assets (in billions of dollars) of the four wealthiest people in a particular country arc 45, 29, 23, 18. Assume that samples of size 2 are randomly selected with replacement from this population of four values. After listing the possible samples and finding the mean of each sample, use a table to describe the sampling distribution of the sample means.

Solution

Consider:

Counting the frequencies of each mean and dividing each by 16,

[ANSWER]

x1	x2	xbar
45	45	45
45	29	37
45	23	34
45	18	31.5
29	45	37
29	29	29
29	23	26
29	18	23.5
23	45	34
23	29	26
23	23	23
23	18	20.5
18	45	31.5
18	29	23.5
18	23	20.5
18	18	18