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1. You draw samples of size n from the population of all pennies in circulation. The random variable of interest is the mean age of

1. You draw samples of size n from the population of all pennies in circulation. The random variable of interest is the mean age of the pennies in the sample (current year pennies are considered to be zero years old). The distribution of ages of pennies (starting at 0) is known to be skewed markedly to the right. That is, there are more recently minted pennies than older pennies in the population. One scholar claims that the mean age of all pennies in circulation is 7.4 years with a standard deviation of 3.3 years. Assume that this scholar is correct. Discuss the mean, standard deviation, and shape of the sampling distribution of sample means of the ages of pennies for each of the given sample sizes. Where possible, give precise values.

A. n = 5

B. n = 15

C. n = 40

2. A sports car manufacturer paints its cars silver, white, black, and red in the following proportions:

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98713 19464 57512 49898 84837 52245 38816 62042 76406 89744 51623 65847 53436 08320 45677 46304 71946 17871 88983 25948 21826 94930 96270 97988 37221 07174 51855 00969 24384 98095 41970 19537 18910 17433 36753 41545 01058 47896 75215 35996 04853 00796 78602 54962 42771 39128 96541 47221 39264 05585Inflation Prime Lending Rate X Rate (y) 3.3 5.2 6.2 8 11 10.8 9.1 7.9 5.8 6.8 6.5 6.9 7.6 9Color: Silver White Black Red Proportion: .2 3 1 4

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