Using a physical device to generate random samples Using a die, generate a sample and evaluate the statistic Then repeat many times and obtain an estimate of the sampling distribution In particular, investigate the sampling distribution of the median for a sample of size 3 from the population distr...

a X 1 if 1 or 2 dots show X 2 if 3 4 or 5 dots show X 4 if 6 dots show b Responses will vary We obta ...

Using a physical device to generate random samples. Using a die, generate a sample and evaluate the

Question:

Using a physical device to generate random samples. Using a die, generate a sample and evaluate the statistic. Then repeat many times and obtain an estimate of the sampling In particular, investigate the sampling of the median for a sample of size 3 from the population f(x)
1............. 2/6
2............. 3/6
4............. 1/6
(a) Roll the die. Assign X = 1 if 1 or 2 dots show. Complete the assignment of values so that X has the population when the die is fair.
(b) Roll the die two more times and obtain the median of the three observed values of X.
(c) Repeat to obtain a total of 25 samples of size 3. Calculate the relative frequencies, among the 75 values, of 1, 2, and 4. Compare with the population probabilities and explain why they should be close.
(d) Obtain the 25 values of the sample median and create a frequency table. Explain how the in this table approximates the actual sampling It is easy to see how this approach extends to any sample size.
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...