Question

Each year, a magazine publishes a list of the richest people in a country. In the last year's issue, the six richest people and their wealth (to the nearest billion dollars) are as shown in the following table. Consider these six people a population of Interest. Complete parts (a) through (e) below. Click the icon to view a list of the six richest people. a. Calculate the mean wealth, H. of the six people. Has billion (Round to one decimal place as needed.) b. For samples of size 2, construct a table of all possible samples and their sample means. Samplo Wealths Samplo Wealths Sample Wealths AB 74, 59 B,C 59,44 CE 44, 35 AC 74, 44 BD 59, 35 CF 44,33 AD 74, 35 BE 59, 35 DE 35, 35 74, 35 BF 59, 33 DF 35, 33 AF 74, 33 CD 44,35 E, F 35. 33 (Type integers or decimals. Do not round.) c. Draw a dotplot for the sampling distribution of the sample mean for samples of size 2. ОА. a OB. :. 30 35 40 45 50 55 60 65 70 30 35 40 45 50 55 60 65 70 75 13 Oc OD a Q 30 35 40 45 50 55 60 65 70 30 35 40 45 50 55 60 65 70

Answer 1

a)

population mean µ =Σx/n=280/6 =46.7

b)

below is sampling distribution of mean:

x1,x2	sample mean
74,59	66.5
74,44	59
74,35	54.5
74,35	54.5
74,33	53.5
59,44	51.5
59,35	47
59,35	47
59,33	46
44,35	39.5
44,35	39.5
44,33	38.5
35,35	35
35,33	34
35,33	34

c)

OD. 30 35 40 45 50 55 60 65 70

d)

probability =0 (since none of sample mean is equal to 46.7)

e)

probability =3/15 =0.200