Question

The assets​ (in billions of​ dollars) of the four wealthiest people in a particular country are 41 comma 30 comma 28 comma 16. Assume that samples of size nequals2 are randomly selected with replacement from this population of four values. a. After identifying the 16 different possible samples and finding the mean of each​ sample, construct a table representing the sampling distribution of the sample mean. In the​ table, values of the sample mean that are the same have been combined. x overbar Probability x overbar Probability 41 nothing 28.5 nothing 35.5 nothing 28 nothing 34.5 nothing 23 nothing 30 nothing 22 nothing 29 nothing 16 nothing ​(Type integers or​ fractions.) b. Compare the mean of the population to the mean of the sampling distribution of the sample mean. The mean of the​ population, nothing​, is ▼ less than equal to greater than the mean of the sample​ means, nothing. ​(Round to two decimal places as​ needed.) c. Do the sample means target the value of the population​ mean? In​ general, do sample means make good estimates of population​ means? Why or why​ not? The sample means ▼ target do not target the population mean. In​ general, sample means ▼ do not do make good estimates of population means because the mean is ▼ a biased an unbiased estimator.

Answer 1