Econometrics Homework 2
The deck of cards we used in our class example was a deck of 40 cards. The actual mean
of the population was 7.6. Please use the data, which is available as a separate file on
the Homework web page, from our class example to answer the following questions.
1.
Calculate the sample maximums from the samples of size 5. Make a sampling
distribution and plot it.
2.
Calculate the sample means from the samples of size 5. Make a sampling
distribution on the same graph as the one you made with the sample maximums. Are
the two distributions centered on approximately 7.6? (Feel free to do this by hand)
3.
Calculate the sample medians from the samples of size 5. Make a sampling
distribution and plot it on a new graph.
4.
On this second graph add the sampling distribution for means of sample size five.
Are the two distributions centered on approximately 7.6? Which of the two is more
spread out?
5.
Calculate the sample means from samples of size 2. Make a sampling distribution
and plot this on a third graph.
6.
On this third graph add the sampling distribution for means of sample size 5. Are the
two distributions centered on approximately 7.6? Which of the two is more spread
out?
Do not turn this homework in at the beginning of class. I want to discuss your
results first. You will turn it in later in the hour.