Histograms of random sample data are often used as an indication of the shape of the underlying
Question:
Histograms of random sample data are often used as an indication of the shape of the underlying population distribution. The histograms on the next page are based on random samples of size 30, 50 and 100 from the same population.
(i) Sample of size 30
(ii) Sample of size 50
(iii) Sample of size 100
(a) Using the midpoint labels of the three histograms, what would you say about the estimated range of the population data from smallest to largest? Does the bulk of the data seem to be between 8 and 12 in all three histograms?
(b) The population distribution from which the samples were drawn is symmetric and mound-shaped, with the top of the mound at 10, 95% of the does each histogram reflect these characteristics?
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...
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Understandable Statistics Concepts And Methods
ISBN: 9781337119917
12th Edition
Authors: Charles Henry Brase, Corrinne Pellillo Brase