1) A realtor has 20 residential listings under contract. The following table sho

Question

1) A realtor has 20 residential listings under contract. The following table shows the number of days each of these 20 houses has been on the market as of today. Use the data to complete parts a through e below.

a) Calculate the mean for this population

b) calculate the sampling error using the first 5 homes in the first row as your sample

c) calculate the sampling error using all 10 homes in the first row as your sample

d) how does increasing the sample size affect the sampling error?

a. in general, increasing the sample size makes the sampling error smaller.

b. in general, increasing the sample size makes the sampling error larger

c. in general, increasing the sample size has no effect on the sampling error.

e) Using a sample of size 5, what is the largest sampling error that can be observed from this population?

The largest sampling error for the given data using a sample of 5 is ____

25 24 4 15 32 24 41 54 51 22 41 52 47 12 44 13 38 61 24 78

Explanation / Answer

a. in general, increasing the sample size makes the sampling error smaller. is correct

25 24 a) 35.1 4 15 b) mean of first 5 20 32 24 sampling error 15.1 41 54 c) mean of first 10 29.2 51 22 error 5.9 41 52 d) a) is correct 47 12 44 13 38 61 24 78

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