The assets (in billions of dollars) of the four wealthiest people in a particular country are 36, 27, 22, 12. Assume that samples of size n=2 are randomly selected with replacement from this...

Q18

Extracted text: The assets (in billions of dollars) of the four wealthiest people in a particular country are 36, 27, 22, 12. Assume that samples of size n=2 are randomly selected with replacement from this population of four values. a. After identifying the 16 different possible samples and finding the mean of each sample, construct a table representing the sampling distribution of the sample mean. In the table, values of the sample mean that are the same have been combined. Probability Probability 36 0.0625 24 0.125 31.5 0.125 22 0.0625 29 0.125 19.5 0.125 27 0.0625 17 0.125 24.5 0.125 12 0.0625 (Type integers or fractions.) b. Compare the mean of the population to the mean of the sampling distribution of the sample mean. The mean of the population, 24.25 , is equal to the mean of the sample means, 24.25 (Round to two decimal places as needed.) c. Do the sample means target the value of the population mean? In general, do sample means make good estimates of population means? Why or why not? The sample means V the population mean. In general, sample means V make good estimates of population means because the mean is estimator.