Repeat parts (b)(e) of Exercise 7.17 for samples of size 5. (There are six possible samples.) b.

Question:

Repeat parts (b)€“(e) of Exercise 7.17 for samples of size 5. (There are six possible samples.)

b. For samples of size 2, construct a table similar to Table 7.2. (There are 15 possible samples of size 2.)
c. Draw a dotplot for the sampling distribution of the sample mean for samples of size 2.
d. For a random sample of size 2, what is the chance that the sample mean will equal the population mean?
e. For a random sample of size 2, determine the probability that the mean wealth of the two people obtained will be within 2 (i.e., $2 billion) of the population mean. Interpret your result in terms of percentages.

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...