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Answered Same DayDec 21, 2021

Answer To: Please see attached, thank you.

David answered on Dec 21 2021
109 Votes
Complete the following textbook exercises:
8, 18, 26, 44 and 46

8. A population consists of the following five values: 0, 0, 1, 3, 6
.
a) List all samples of size 3, and compute the mean of each example.
b) Compute the mean of the distribution of the sample mean and the population
mean. Compare the two values.
c) Compare the dispersion in the population with that of the sample means.
Solution:
a)
Sample # Unit1 Unit2 Unit3 Mean
1 0 0 1 0.333
2 0 0 3 1.000
3 0 0 6 2.000
4 0 1 3 1.333
5 0 1 6 2.333
6 0 3 6 3.000
7 0 1 3 1.333
8 0 1 6 2.333
9 0 3 6 3.000
10 1 3 6 3.333

b) The population mean = (0+0+1+3+6)/5 = 2
The mean of distribution of the sample mean = 2
Clearly, mean of distribution of the sample mean is equal to population
mean.
c) The dispersion in the population, Standard deviation = 2.28 and the SD
of sample mean = 0.203. Clearly, SD of sample mean is much less than
the SD in population.
18. According to a study, it takes an average of 330 minutes for taxpayers to
prepare, copy, and electronically file an income tax return. The distribution of
times follows the normal distribution and the standard deviation is 80 minutes. A
random sample of 40 taxpayers is picked.
a) What is the standard error of the mean in this example?
b) What is the likelihood the sample mean is greater than 320 minutes?...
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