A Sample of 5 Clusters Is to Be Taken from a Population

question 9

Essay

A sample of 5 clusters is to be taken from a population with N = 30 clusters and M = 300 elements in the population. The values of M_i and X_i for each cluster are shown below.
a.Determine the point estimate of the population mean.
b.Determine the standard error of the mean.
c.Develop a 95% confidence interval for the population mean.
d.Determine the point estimator of the population total.
e.Approximate a 95% confidence interval estimate of the population total.

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Definitions:

Paired-Choice Majority Votes

A voting system in which options are matched in pairs and voted upon, with the winner of each pair moving on to compete in subsequent rounds.

Marginal Benefits

The incremental value or satisfaction derived from the use of one more unit of a good or service.

Marginal Costs

represent the cost of producing one more unit of a good or service, calculated by the change in total cost that comes from producing one additional unit.

Economic Analysis

The study of how people use resources to produce goods and services for consumption and how those goods and services are distributed and consumed.