Question

For purposes of studying sampling distribution, we consider a small population of N = 4 units, labeled 1, 2,3,4, with respective y-values y1 =3, y2 =1, y3 =0, y4 =5.

Give the values of the population parameters μ, and σ2.

Answer 1

Solution:

The population mean is denoted by μ and it is given by the formula,

; where, N is population size and Y_{​​​​​​i}​​​'s are values.

We have N = 4.

The population variance is denoted by σ^{​​​​​​2} and it is given by the formula,

We have, μ = 2.25 and N = 4.

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