1.) The assets (in billions of dollars) of the four wealthiest people in a particular country are

42,34,20,18.

Assume that samples of size

n=2

are randomly selected with replacement from this population of four values.

Question content area bottom

Part 1

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	Probability		x	Probability
42	enter your response here		27	enter your response here
38	enter your response here		26	enter your response here
34	enter your response here		20	enter your response here
31	enter your response here		19	enter your response here
30	enter your response here		18	enter your response here

(Type integers or fractions.)

Part 2

b. Compare the mean of the population to the mean of the sampling distribution of the sample mean.

The mean of the population,

enter your response here,

is

equal to

greater than

less than

the mean of the sample means,

enter your response here.

(Round to two decimal places as needed.)

Part 3

c. Do the sample means target the value of the population mean? In general, do sample means make good estimates of population means? Why or why not?

The sample means

target

do not target

the population mean. In general, sample means

do

do not

make good estimates of population means because the mean is

an unbiased

a biased

estimator