Repeat Exercise 9 using means instead of medians. In Example 4, we assumed that samples of size

Question:

Repeat Exercise 9 using means instead of medians.

In Example 4, we assumed that samples of size are randomly selected without replacement from the population consisting of 2, 3, and 10, where the values are the numbers of people in households. Table 6-4 lists the nine different possible samples.

a. Find the median of each of the nine samples, then summarize the sampling distribution of the medians in the format of a table representing the probability distribution.

b. Compare the population median to the mean of the sample medians.

c. Do the sample medians target the value of the population median? In general, do sample medians make good estimators of population medians? Why or why not?

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...