Question

Data set: 0, 3, 7, 8, 11, 17, 25, 42, 50, 60, 100

1)Using Excel, compute the population mean and standard deviation.

2)How many samples of size 3 can you generate out of the population?

3)List all possible samples of size 3 and for each one compute the sample mean.

4)Using the Randbetween function on Excel, select one random sample, and report its mean and standard deviation.

5)For that one sample you have selected, build a 90% confidence interval. Does the interval contain the value of the population mean?

6)Build a 90% confidence interval for each and every sample. What is the proportion of intervals that contain the value of the population mean?

7)Build a relative frequency distribution of the sample means, and build the histogram.

8)The relative frequency distribution of the sample means is known under another name. Which one?

9)Compute the mean and standard deviation of the relative frequency distribution. What do you observe?

10)Can you relate the standard deviation of the relative frequency distribution to the population standard deviation? If so, what is the relationship?

Answer 1

First 5 questions have been solved.

1)Using Excel, compute the population mean and standard deviation.

2)How many samples of size 3 can you generate out of the population?

Without replacement 165 samples can be generated

3)List all possible samples of size 3 and for each one compute the sample mean.

4)Using the Randbetween function on Excel, select one random sample, and report its mean and standard deviation.

5)For that one sample you have selected, build a 90% confidence interval. Does the interval contain the value of the population mean?