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Central limit theorem (pocket change)

Class Time:

Names:

    Student learning outcomes

  • The student will demonstrate and compare properties of the central limit theorem.

Note

This lab works best when sampling from several classes and combining data.

    Collect the data

  1. Count the change in your pocket. (Do not include bills.)
  2. Randomly survey 30 classmates. Record the values of the change in [link] .
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
  3. Construct a histogram. Make five to six intervals. Sketch the graph using a ruler and pencil. Scale the axes.
    Blank graph template. The horizontal axis is labeled Value of the change and the vertical axis is labeled Frequency.
  4. Calculate the following ( n = 1; surveying one person at a time):
    1. x ¯ = _______
    2. s = _______
  5. Draw a smooth curve through the tops of the bars of the histogram. Use one to two complete sentences to describe the general shape of the curve.

Collecting averages of pairs

Repeat steps one through five of the section Collect the Data. with one exception. Instead of recording the change of 30 classmates, record the average change of 30 pairs.

  1. Randomly survey 30 pairs of classmates.
  2. Record the values of the average of their change in [link] .
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
  3. Construct a histogram. Scale the axes using the same scaling you used for the section titled Collect the Data . Sketch the graph using a ruler and a pencil.
    This is a blank graph template. The horizontal axis is labeled Value of the change and the vertical axis is labeled Frequency.
  4. Calculate the following ( n = 2; surveying two people at a time):
    1. x ¯ = _______
    2. s = _______
  5. Draw a smooth curve through tops of the bars of the histogram. Use one to two complete sentences to describe the general shape of the curve.

Collecting averages of groups of five

Repeat steps one through five (of the section titled Collect the Data ) with one exception. Instead of recording the change of 30 classmates, record the average change of 30 groups of five.

  1. Randomly survey 30 groups of five classmates.
  2. Record the values of the average of their change.
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
    __________ __________ __________ __________ __________
  3. Construct a histogram. Scale the axes using the same scaling you used for the section titled Collect the Data . Sketch the graph using a ruler and a pencil.
    This is a blank graph template. The horizontal axis is labeled Value of the change and the vertical axis is labeled Frequency.
  4. Calculate the following ( n = 5; surveying five people at a time):
    1. x ¯ = _______
    2. s = _______
  5. Draw a smooth curve through tops of the bars of the histogram. Use one to two complete sentences to describe the general shape of the curve.

    Discussion questions

  1. Why did the shape of the distribution of the data change, as n changed? Use one to two complete sentences to explain what happened.
  2. In the section titled Collect the Data , what was the approximate distribution of the data? X ~ _____(_____,_____)
  3. In the section titled Collecting Averages of Groups of Five , what was the approximate distribution of the averages? X ¯ ~ _____(_____,_____)
  4. In one to two complete sentences, explain any differences in your answers to the previous two questions.

Questions & Answers

it is the relatively stable flow of income
Chidubem Reply
what is circular flow of income
Divine Reply
branches of macroeconomics
SHEDRACK Reply
what is Flexible exchang rate?
poudel Reply
is gdp a reliable measurement of wealth
Atega Reply
introduction to econometrics
Husseini Reply
Hi
mostafa
hi
LEMLEM
hello
Sammol
hi
Mahesh
bi
Ruqayat
hi
Ruqayat
Hi fellas
Nyawa
hey
Sammol
hi
God
hello
Jahara
Good morning
Jorge
hi
abubakar
hi
Nmesoma
hi
Mahesh
Hi
Tom
Why is unemployment rate never zero at full employment?
Priyanka Reply
bcoz of existence of frictional unemployment in our economy.
Umashankar
what is flexible exchang rate?
poudel
due to existence of the pple with disabilities
Abdulraufu
the demand of a good rises, causing the demand for another good to fall
Rushawn Reply
is it possible to leave every good at the same level
Joseph
I don't think so. because check it, if the demand for chicken increases, people will no longer consume fish like they used to causing a fall in the demand for fish
Anuolu
is not really possible to let the value of a goods to be same at the same time.....
Salome
Suppose the inflation rate is 6%, does it mean that all the goods you purchase will cost 6% more than previous year? Provide with reasoning.
Geetha Reply
Not necessarily. To measure the inflation rate economists normally use an averaged price index of a basket of certain goods. So if you purchase goods included in the basket, you will notice that you pay 6% more, otherwise not necessarily.
Waeth
discus major problems of macroeconomics
Alii Reply
what is the problem of macroeconomics
Yoal
Economic growth Stable prices and low unemployment
Ephraim
explain inflationcause and itis degre
Miresa Reply
what is inflation
Getu
increase in general price levels
WEETO
Good day How do I calculate this question: C= 100+5yd G= 2000 T= 2000 I(planned)=200. Suppose the actual output is 3000. What is the level of planned expenditures at this level of output?
Chisomo Reply
how to calculate actual output?
Chisomo
how to calculate the equilibrium income
Beshir
Criteria for determining money supply
Thapase Reply
who we can define macroeconomics in one line
Muhammad
Aggregate demand
Mohammed
C=k100 +9y and i=k50.calculate the equilibrium level of output
Mercy Reply
Hi
Isiaka
Hi
Geli
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Bahunda
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Amisha
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Geli
from Nepal
Amisha
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Amisha
nd u
Amisha
I am Camara from Guinea west Africa... happy to meet you guys here
Sekou
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Amisha
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Amisha
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Amisha
nd u
Amisha
ahh
Amisha
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Amisha
ys
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Amisha
money as unit of account means what?
Kalombe
A unit of account is something that can be used to value goods and services and make calculations
Jim
all of you please speak in English I can't understand you're language
Muhammad
I want to know how can we define macroeconomics in one line
Muhammad
it must be .9 or 0.9 no Mpc is greater than 1 Y=100+.9Y+50 Y-.9Y=150 0.1Y/0.1=150/0.1 Y=1500
Kalombe
Mercy is it clear?😋
Kalombe
hi can someone help me on this question If a negative shocks shifts the IS curve to the left, what type of policy do you suggest so as to stabilize the level of output? discuss your answer using appropriate graph.
Galge Reply
if interest rate is increased this will will reduce the level of income shifting the curve to the left ◀️
Kalombe
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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