Question

Assume that a population of size 5 specifies that all possible samples of size "3" are extracted without repetition.

Values:

2,500.00

2,650.00

2,790.00

3,125.00

3,200.00

1) Calculate the mean and standard deviation of the population.

2) Calculate all possible samples, their means and standard deviations.

3) Calculate the standard error of the means using the standard deviations.

4) Show that the expected value of the sample mean is equal to the mean of the population.

5) Show that the expected value of the standard sampling error is greater than the standard deviation of the population.

6) Calculate the confidence interval of the sample means with a significance level of 80% and indicate which samples are not representative and develop an analysis.

7) Select the non-representative samples and calculate the mean of the population mean with a level of significance of 80% and develop an analysis.

Answer 1