The assets (in billions of dollars) of the four wealthiest people in a particula

Question

The assets (in billions of dollars) of the four wealthiest people in a particular country are 46 comma 31 comma 24 comma 1946, 31, 24, 19. Assume that samples of size nequals=2 are randomly selected with replacement from this population of four values. a. 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. Probability 46 27.5 38.5 25 35 24 32.5 21.5 31 19

Explanation / Answer

The probability distribution table will be:

Mean Probability 46 1/16 27.5 1/8 38.5 1/8 25 1/8 35 1/8 24 1/16 32.5 1/8 21.5 1/8 31 1/16 19 1/16

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