The concept of sampling distributionis one of the most important concepts in inferential statistics. The goal of this exercise is to demonstrate the construction and meaningfulness of an empirical samplingdistribution.

Suppose you have a population (N=5) comprised of the following five values: 2, 3, 4, 5, and 6.

1. Compute the population meanand populationstandard deviation.

1. Construct the sampling distributionfor these five amounts (hint: See handout entitled "Sampling Distribution: CT, V, and Form" and arrange the information in a data matrix) as if you were selecting samples two (i.e., n=2) at a time withreplacement.

1. Compute the mean of the sampling distributionand the standard error of the meanfor this empirical samplingdistribution.