Question

The assets​ (in billions of​ dollars) of the four wealthiest people in a particular country are 33, 29, 23, 18. Assume that samples of size n=2 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 over bar	Probability		x over bar	Probability
33	nothing		25.5	nothing
31	nothing		23.5	nothing
29	nothing		23	nothing
28	nothing		20.5	nothing
26	nothing		18	nothing

​(Type integers or​ fractions.)

Answer 1

Given the four wealthiest people in a particular country are 33, 29, 23, 18.

Sample size n=2

selected with replacement from this population of four values.

Samples	Mean	Samples	Mean
33,29	31	29,33	31
33,23	28	23,33	28
33,18	25.5	18,33	25.5
29,23	26	23,29	26
29,18	23.5	18,29	23.5
23,18	20.5	18,23	20.5
33 ,33	33	23,23	23
29,29	29	18,18	18

NOW:

	Probability		Probability
33	1/16	25.5	2/16
31	2/16	23.5	2/16
29	1/16	23	1/16
28	2/16	20.5	2/16
26	2/16	18	1/16