please answer all parts of this question (A-E) THIS one problem. Each year, a ma

Question

please answer all parts of this question (A-E) THIS one problem.

Each year, a magazine publishes a list of the richest people in a country. In the last year's issue, the six richest people and their wealth (to the nearest billion dollars) are as shown in the following table. Consider these six people a population of interest. Complete parts (a) through (e) belovw Click the icon to view a list of the six richest people a. Calculate the mean wealth, , of the six people -3| |billion (Round to one decimal place as needed.) b. For samples of size 2, construct a table of all possible samples and their sample means Sample Wealthsx Sample Wealthsx Sample Wealthsx A, B 74, 61 A,C74, 44 A, D74, 36 B, C 61, 44 B, D B. E B, F 61, 34 C, D 44, 36 C, E 44, 36 C, F44, 34 D, E 36, 36 D, F 36, 34 61, 36 61, 36 A. E | 74, 36 | | D, F | 36, 341 E, F 36, 34 A, E74, 36 A, F 74, 34 Type integers or decimals. Do not round.)

Explanation / Answer

Ans:

a)population mean=47.5

b)sample means:

Mean of sample means=47.5

c)Option C is correct.

d)Only one sample out of (61,34) is having mean equal to population mean=47.5

Hence,Probability=1/15=0.067

e)There are two samples which have sample mean(48.5) within 1 billion of population mean.

Hence,probability=2/15=0.1333

67.5 52.5 40 59 48.5 39 55 48.5 36 55 47.5 35 54 40 35

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