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 42, 30, 25, 10. 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.

(Type integers or fractions.) Sample Mean (x bar) Probability Sample Mean (x bar) Probability 42 26 36 25 33.5 20 30 17.5 27.5 10

Explanation / Answer

Sample Mean    Probability

42                      1/16

36                     2/16

33.5                  2/16

30                    1/16

27.5                 2/16

26                    2/16

25                    1/16

20                    2/16

17.5                 2/16

10                   1/16

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