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 44, 28,27, 16. Assume that samples of size n 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 Probability 27.5 27 36 35.5 30 28 21.5 16 Type integers or fractions.)

Explanation / Answer

as there are total 4*4=16 samples ; threfore each sample has equal probability =1/16

from abvoe:

xbar probability xbar probability 44 1/16 27.5 1/8 36 1/8 27 1/16 35.5 1/8 22 1/8 30 1/8 21.5 1/8 28 1/16 16 1/16

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