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Calculations of Populations using Random-number generations

See attached file.

populations using Random-number generations:
Population Size = 1000
- Determine the descriptive statistics of the population
- Construct a histogram of the population
- Take 20 random samples from the population, each of size 40
- Calculate the mean and standard deviation of each sample
- Form a Table of Sample Means and Standard Deviations
- Construct a histogram of sample means
- Verify the Central Limit Theorem
a. GMAT: Graduate Management Admission Test scores:
Mean = m = 520
Std. Deviation = s = 80
b. The amount of fill in a half-liter bottle of Coke
Mean = m = 500 ml
Std. Deviation = s = 1.20 ml


Solution Preview

See the attached file.

Steps for Randomization Process.
Step 1:: First generate 1000 random numbers using RAND function in Excel.
Step 2: ...

Solution Summary

This post explains steps involved in estimating a population parameter by drawing samples using random number generation.