Question

Simulate 20 values from the Exponential distribution with mean 3. Compute the mean and standard deviation of these 20 values and compare with population values.

Answer 1

Using R

# lambda = 5

x<- rexp(20, rate = 5)
mean(x)
sd(x)

population mean = population sd = 1/lambda = 1/5 = 0.2

sample mean = 0.22

sample sd = 0.23

we see that sample values are close to population values, but there is some sampling error

error will decrease if we take a large sample

Please give me a thumbs-up if this helps you out. Thank you! :)