Question

Find profit or loss of 50 companies using Forbes or CNN money. Calculate the population parameters for all 50 companies profit or loss Select a sample of 10 Calculate the point estimators of the sample Compare the results (Point estimators with Pop. Parameters) Use RandBetween command or Ch. 7 Random number table to select your samples Your work should include: The name of all companies List of all companies profit/loss List of your sample Point estimators and population parameters, for Pop. Proportion use those who have less than a certain value of profit/loss.

Answer 1

ANSWER:

You can use Excel to calculate sum/average etc easily

using function = sum () and = average () for average

Note that you for parameter you have to use all 50 companies.

Since you did not provide all 50 companies , you have to do it your self similar to how i do for sample data ( 10 companies)

now

For sample data, we can find sample mean

1	6670
2	20840
3	59531
4	10073
5	-594
6	19370
7	14824
8	3677
9	8014
10	3134
SAMPLE MEAN	14553.9

FORMULA

1	6670
=1+A1	20840
=1+A2	59531
=1+A3	10073
=1+A4	-594
=1+A5	19370
=1+A6	14824
=1+A7	3677
=1+A8	8014
=1+A9	3134
SAMPLE MEAN	= AVERAGE (B1:B10)

Sample mean is unbiased and consistent estimator of population mean point estimator is sample mean = 14553.9

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