Scrapper Elevator Company has 20 sales representatives who sell its product throughout the United States and Canada.

Question:

Scrapper Elevator Company has 20 sales representatives who sell its product throughout the United States and Canada. The number of units sold last month by each representative is listed below. Assume these sales figures to be the population values.

a. Draw a graph showing the population distribution.
b. Compute the mean of the population.
c. Select five random samples of 5 each. Compute the mean of each sample. Use the methods described in this chapter and Appendix B.4 to determine the items to be included in the sample.
d. Compare the mean of the sampling distribution of the sample mean to the population mean. Would you expect the two values to be about the same?
e. Draw a histogram of the sample means. Do you notice a difference in the shape of the distribution of sample means compared to the shape of the populationdistribution?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...