1. The Odd estimator of the population average gives each odd-numbered obser- vation a weight of 2/n. Apply this estimator in the UnivariateSample sheet. What do the weights in column D look like?
2. Use the Monte Carlo simulation add-in to analyze the sampling distribution of the Odd estimator. Is it biased? What part of the Monte Carlo results did you use to answer this question?
3. Would you prefer the Odd estimator or the Sample Average estimator? Explain your choice.
4. Explore the consequences of changing the error distribution from normal to uniform in the UnivariateSample sheet. (Section 14.6 compares the normal and uniform distributions.) Replace the normalrandom formula in column B with the uniform function. What effect does this have on the sampling distribution of the Sample Average? In your answer, comment on the expected value, SE, and shape of the sampling distribution.
5. From the UnivariateSample sheet, use Excel's MEDIAN function to compute the sample median of the observed Y values. Use the Monte Carlo simulation add-in to race the Median against the Sample Average. Who wins? Why?