The assets (in billions of dollars) of the four wealthiest people in a particular country are 47,35,28,11. Assume that the sample of size 2 are randomly selected with replacement from this population of four values.

a) After listing the possible samples and finding the mean of each sample, use the table to describe the sampling distribution of the sample means.

b). Find the mean of the sampling distribution
µ =____( Please round to two decimal places as needed)

c). Is the mean of the sampling distribution [from part (b) equal to the mean of the population of the four listed values, if so are those means always equal. Why or why not.

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The assets (in billions of dollars) of the four wealthiest people in a particular country are 47,35,28,11. Assume that the sample of size 2 are randomly selected with replacement from this population of four values
a) After listing the possible samples and finding the mean of each sample, use ...

Solution Summary

The solution determines the mean of the sampling distribution.

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