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 47, 25, 15, 13. Assume that samples of size n = 2 are randomly selected with replacement from 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, value combined. (Type integers or fractions.) b. Compare the mean of the population to the mean of the sampling distribution of the sample mean. The mean of the population is the mean of the sample means, (Round to two decimal places as needed.) c. Do the sample means target the value of the population mean? In general, do sample means make good estimates of population means? Why or why not? The sample means the population mean. In general, sample means make good estimates of population means because the mean is estimator.

Explanation / Answer

from above distribution of random samples is as follows

hence for probabilty table

mean of the population =25 is equal to mean of sample means =25

c) sample mean equal the population mean ////sample mean do make ........the mean is unbiased estimatopr

x1 x2 Xbar 47 47 47 25 47 36 15 47 31 13 47 30 47 25 36 25 25 25 15 25 20 13 25 19 47 15 31 25 15 20 15 15 15 13 15 14 47 13 30 25 13 19 15 13 14 13 13 13

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