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Central Limit Theorem/Sampling Distribution

See Excel file to answer the following questions.

A. Generate a random frequency distribution of per capita personal income
B. From the frequency distribution, select two small samples (sample size of 4) and two large samples (sample size of 40), and compare the means and the standard deviations.
C. Construct histograms using a very small sampling distribution of sample means (sample size of 3) and a larger sampling distribution of sample means (sample size of 30).
As you touch the F9 key to give different charts, what do you notice between the charts of small sampling distributions and of larger sampling distributions?

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Solution Preview

I couldn't open the file you sent, so I used the one from your original posting. I put my work in the second spreadsheet. See that spread sheet for the answers.

A. Generate a random frequency distribution of per capita personal income

Instead of creating random numbers, I think you're supposed to make a table describing the frequency distribution of the data that's given:

INTERVAL FREQUENCY
$20,000 - $24,999 1
$25,000 - ...

Solution Summary

The solution answers all questions using Excel. The attachment in the solution is an .xls file, not an .xlsx file.

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