For this discussion, follow the instructions using excel and post only the ** required bits in your
Question:
For this discussion, follow the instructions using excel and post only the ** required bits in your reply.
1. Come up with your own distribution. It can be continuous or discrete but should be something you can generate based on Excel's random number generator (you can even try generating initial random values and then put them through additional functions like take their exponent, multiply, divide, etc).
-describe the distribution you're using to generate the data and its parameters
2. Generate at least 1000 observations and create a histogram that shows the distribution Upload a picture of the histogram
3. Next, pick a sample size (bigger than one). Use the Central limit theorem to calculate the theoretical expected mean and standard error given that sample size.
-write the sample size, expected mean and standard error
4. Take repeated samples of your distribution: sample size is the number of columns. at least 1000 observations (rows), calculate the sample means, and create a histogram of the distribution of sample means.
-Upload a picture of this histogram
-calculate the empirical mean and standard deviation of the sample means and write that down too.
Expert Answer:
1 Let X is a continuous random variable having Exponential pdf fX ExpX X0 0 parameter of the distribution Mean of X 1 Variance of X 1 2 Let Fx be the cumulative distribution function of X Fx 1Expx x0 ... View the full answer
