Consider the Following Sample of Three Measurements {4,8,13}

question 20

Multiple Choice

Consider the following sample of three measurements {4,8,13}.Five bootstrap samples of this sample produced the following resamples: {4,8,8},{4,4,13},{4,8,13},{8,8,8},{8,13,13}.Based on these five resamples,find the bootstrap of the standard error of the sample median.

• A)3.1937
• B)1.4283
• C)8.2
• D)5.2222
• E)10.2

---

Definitions:

Market Demand Curve

A graphical representation showing the relationship between the price of a good and the total quantity demanded by all consumers in the market.

Positive Externality

A benefit that affects a party who did not choose to incur that benefit, often associated with public goods and services.

Free-Market Economy

An economic system where prices are determined by unrestricted competition between privately owned businesses without government intervention.

Negative Externality

A situation where a third party suffers costs or harm as a result of an economic transaction between other parties, without compensation, such as pollution from a factory affecting nearby residents.