A Simple Random Sample of 6 Recent Graduates Revealed the Following

question 87

Short Answer

A simple random sample of 6 recent graduates revealed the following information about their weekly incomes.
a.What is the expected value of the average weekly income of all the recent graduates?
b.What is the expected value of the standard deviation for the population?

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Definitions:

Random Variable

A variable that reflects numerical outcomes attributed to random occurrences.

Occurrences

The instances or number of times an event or condition appears or is observed.

Probability Distribution

A numerical function outlining all conceivable outcomes and their associated chances for a random variable within a certain range.

Random Variable

A variable determined by the numerical results of chance phenomena.