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ECO5185 B PROBLEM SET 1 1. The sample mean is defined as X Xin where n is the number of observations in the sample. Show

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ECO5185 B PROBLEM SET 1 1. The sample mean is defined as X Xin where n is the number of observations in the sample. Show that if the sample observations are independent random variables, each with a mean of / and a variance of of, then E(X) = / and var(X )

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