B. Compare the mean of the population to the mean of the sampling distribution o

Question

B. Compare the mean of the population to the mean of the sampling distribution of the sample mean.
Need ASAP! Thank you The assets (in billions of dollars) of the four wealthiest people in a particular country are 37, 35, 24, 15. 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 37 36 35 30.5 29.5 26 25 24 19.5 15 (Type integers or fractions.) Enter your answer in the edit fields and then click Check Answer

Explanation / Answer

a) From the given data

B) Population Mean : (37+35+24+15) / 4 = 27.75

Mean of sampling distribution of mean is 27.75

since

Therefore, Both population mean and sampling distribution of mean are equal

With Replacement Sampling distribution Samples 1st draw 2nd draw of mean 1 37 37 37 2 37 35 36 3 37 24 30.5 4 37 15 26 5 35 37 36 6 35 35 35 7 35 24 29.5 8 35 15 25 9 24 37 30.5 10 24 35 29.5 11 24 24 24 12 24 15 19.5 13 15 37 26 14 15 35 25 15 15 24 19.5 16 15 15 15 Total: 444

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