Question: Problem 14. The density for the population of increases in wages for assistant professors being promoted to associates (1 = no increase, 2 = salary

Problem 14. The density for the population of increases in wages for assistant professors being promoted to associates (1 = no increase, 2 = salary has doubled) is uniform on the range from 1 to 2. a. What's the mean and variance of this density? b. Suppose that the sample variance of 10 observations from this density was sampled say 10, 000 times. What number would we expect the average value from these 10, 000 variances to be near? (Explain your answer briefly.)

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