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 45, 35, 29, 14. Assume that samples of size n replacement from this population of four values. 2 are randomly selected with 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 Probability 45 40 37 35 32 29.5 29 24.5 21.5 14 Type integers or fractions.)

Explanation / Answer

X bar Probability

45 P(45,45) = 1/4 * 1/4 = 1/16

40 P(45,35) = 2 * 1/4 * 1/4 = 1/8

37 P(45,29) = 2 * 1/4 * 1/4 = 1/8

35 P(35,35) = 1/4 * 1/4 = 1/16

32 P(35,29) = 2 * 1/4 * 1/4 = 1/8

29.5 P(45,14) = 2 * 1/4 * 1/4 = 1/8

29 P(29,29) = 1/4 * 1/4 = 1/16

24.5 P(35,14) = 2 * 1/4 * 1/4 = 1/8

21.5 P(29,14) = 2 * 1/4 * 1/4 = 1/8

14 P(14,14) = 1/4 * 1/4 = 1/16

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