Q5: A group of poker players are profile in this month's magazine. The table below lists their name and average winnings per tournament. Consider this to be a population.
|
Player
|
Average Winnings
|
|
Seattle Slim
|
$27000
|
|
KC Kate
|
$33000
|
|
Minnesota Mel
|
$45000
|
|
Gotham City Graced
|
$35000
|
|
The Player
|
$60000
|
a) find the mean and standard deviation of this population.
b) List all possible swamples of size 2.
c) Find the sample average for each sample.
d) Find µxbar
e) What is the arithmetic difference between µ and µxbar?
f) Will this always be true?
g) Should the small population/large sample adjustment factor be used in this case? Show why or why not.
h) Find oxbar.