A Statistics Professor Has Just Given the Final Examination in His

question 78

Essay

A statistics professor has just given the final examination in his introductory statistics course. In particular, he is interested in learning how his class of 50 students performed on this exam. The data are shown below.
-(A) Using these 50 students as the frame, use Excel to generate a simple random sample of size 10 from this frame.
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(B) Compute the mean scores in the frame and the simple random sample you generated in (A).
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(C) Compare the mean scores you computed in (B). Is your simple random sample a good representative of the frame? Why or why not?
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(D) Using these 50 students as the frame, use Excel to generate a systematic sample of size 10 from this frame.
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(E) Compare the mean scores in the frame with that in the systematic sample in (D). What do you conclude?

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Definitions:

Purchasing Power

The amount of goods or services one can obtain with a single unit of currency, determining its value.

Deflation

A decrease in the general price level of goods and services, often indicating an reduction in the supply of money or credit.

Nominal Interest Rate

The percentage rate at which interest is charged or paid on a loan or investment, not adjusted for inflation.

Inflation Rate

The upward trajectory of prices for goods and services, causing a consequent decline in how much one can purchase.