Question 1: In a recent years the U.S. Mint in Denver manufactured 270 million q

Question

Question 1:

In a recent years the U.S. Mint in Denver manufactured 270 million quarters. As part of the mint's quality control program, samples of quarters are randomly selected each day for detailed inspection to confirm that they meet all required specification.

(a) Do you think the quarters are randomly selected with replacement or without replacement?

(b) Give reasons why statistical methods tends to be based on the assumption that sampling is conducted with replacement, instead of without replacement.

Explanation / Answer

a) The quaters are randomly selected with replacement.

b)

     a) When selecting a relatively small sample from a large population, it makes no significant difference     whether we sample with replacements or without replacements.

   b) Sampling with replacements results in independent events that are unaffected by previous outcomes and independent events are easier to analyze.

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