Problem 3 Suppose that the following are i.i.d. copies of random variable X following distribution F...
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Problem 3 Suppose that the following are i.i.d. copies of random variable X following distribution F generated from a computer: 5, 4, 9, 6, 21, 12, 7, 14, 17, 11, 20, 7, 10, 21, 15, 26, 9, 13, 8, 6. We want to estimate E[X2]. How many additional random variables from F will we need to generate if we want to be 99 percent certain that our estimate has a margin of error 0.1.? Assume the sample variance is close to the true variance for a sample size of 20. Problem 3 Suppose that the following are i.i.d. copies of random variable X following distribution F generated from a computer: 5, 4, 9, 6, 21, 12, 7, 14, 17, 11, 20, 7, 10, 21, 15, 26, 9, 13, 8, 6. We want to estimate E[X2]. How many additional random variables from F will we need to generate if we want to be 99 percent certain that our estimate has a margin of error 0.1.? Assume the sample variance is close to the true variance for a sample size of 20.
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