Repeat parts b e of Exercise 7 17 for samples of size
Repeat parts (b)–(e) of Exercise 7.17 for samples of size 1.
b. For samples of size 2, construct a table similar to Table 7.2. (There are 15 possible samples of size 2.)
c. Draw a dotplot for the sampling distribution of the sample mean for samples of size 2.
d. For a random sample of size 2, what is the chance that the sample mean will equal the population mean?
e. For a random sample of size 2, determine the probability that the mean wealth of the two people obtained will be within 2 (i.e., $2 billion) of the population mean. Interpret your result in terms of percentages.
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