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Population Mean

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Q5: A group of poker players are profile in this month's magazine. The table below lists their name and average winnings per tournament. Consider this to be a population.

Player Average Winnings
Seattle Slim $27000
KC Kate $33000
Minnesota Mel $45000
Gotham City Graced $35000
The Player $60000

a) find the mean and standard deviation of this population.
b) List all possible samples of size 2.
c) Find the sample average for each sample.
d) Find x-bar
e) What is the arithmetic difference between µ and µ-x-bar?
f) Will this always be true?
g) Should the small population/large sample adjustment factor be used in this case? Show why or why not.
h) Find ơ x-bar.

See attached file for full problem description.

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Solution Summary

To show that population mean is equal to mean of sample mean.

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