Consider all of the coins (pennies, nickels, quarters, etc.) in your pocket or purse as a population.
Question:
Consider all of the coins (pennies, nickels, quarters, etc.) in your pocket or purse as a population. Make a frequency table beginning with the current year and counting backward to record the ages (in years) of the coins. For example, if the current year is 2019, then a coin with 2017 stamped on it is 2 years old.
a. Draw a histogram or other graph showing the population distribution.
b. Randomly select five coins and record the mean age of the sampled coins. Repeat this sampling process 20 times. Now draw a histogram or other graph showing the distribution of the sample means.
c. Compare the shapes of the two histograms. Why are the two distributions different?
Step by Step Answer:
Statistical Techniques In Business And Economics
ISBN: 9781260239478
18th Edition
Authors: Douglas Lind, William Marchal, Samuel Wathen