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