Homework SourseThe 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 are 40, 26, 25, 17. Assume that samples of size n=2 are randomly selected with replacement from this population of four values.
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.
Solution
(26,26)
20. 1
33. 2
32.5 2
28.5 2
26 1
25.5 2
21.5. 2
25. 1
21. 2
17. 1
| Sample | Mean |
| (40 ,40) | 20 |
| (40,26) | 33 |
| (40,25) | 32.5 |
| (40,17) | 28.5 |
| (26,40) | 33 |
| (26,26) | 26 |
| (26,25) | 25.5 |
| (26,17) | 21.5 |
| (25,40) | 32.5 |
| (25,26) | 25.5 |
| (25,25) | 25 |
| (25,17) | 21 |
| (17,40) | 28.5 |
| (17,26) | 21.5 |
| (17,25) | 21 |
| (17,17) | 17 |
