A random sample of 40 observations is to be drawn from a large population of measurements. It

Question:

A random sample of 40 observations is to be drawn from a large population of measurements. It is known that 30% of the measurements in the population are 1’s, 20% are 2’s, 20% are 3’s, and 30% are 4’s.

a. Give the mean and standard deviation of the (repeated) sampling distribution of x-bar, the sample mean of the 40 observations.

b. Describe the shape of the sampling distribution of x-bar. Does your answer depend on the sample size?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...