a) The assets ( in billions of dollars) of the four wealthiest people
a) The assets ( in billions of dollars) of the four wealthiest people
in a particular country are 47, 26, 22, 11. Assume that sample of size 2 are ramdomly selectedwith replacement from this population of four values
After listing the possible sample and Finding the means of each sample, use a table to describe the sampling distribution of the sample mean
x probability x probability
47 24
36.5 22
34.5 18.5
29 16.5
26 11
b) Fine the mean of the sample distribution
c) Is the mean of the sampling distribution ( from (b) equal to the mean of the population of the four listed values? If so are those means always equal ?