Refer to Problem 22. a. Draw a probability histogram for the random variable X. b. The selection
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Refer to Problem 22.
a. Draw a probability histogram for the random variable X.
b. The selection of the four households was done without replacement.
Strictly speaking, then, why is the probability distribution that you obtained in Problem 22(b) only approximately correct? What is the exact distribution called?
c. Do you think the probability distribution that you obtained is a reasonable approximation to the actual one? Explain your answer.
DistributionThe 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...
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a b The distribution is only approximate for several reasons the a...View the full answer
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