1. World's Richest. Each year, Forbes magazine publishes a list of the world's richest people. In 2009, the six richest people, their citizenship, and their wealth (to the nearest billion dollars)

Name

Willlam Gate (G) Warren Buffett (B) Carlos Slim Helu (H) Lawrence Ellison (E) Karl Albrecht (A) Ingvar Kamprad (K)

Citizenship United States United States Mexico United States Sweden Germany

Wealth ($ billion) 40

38

35

23 22 22

a. Calculate the mean wealth, , of the six people.

b. For samples of size 2, construct a table and calculate the means for samples of size 2.

c. For a random sample of size 2, what is the chance that the sample mean will equal the

population mean?

d. 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.