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Names:

    Student learning outcomes

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

Given

X = length of time (in days) that a cookie recipe lasted at the Olmstead Homestead. (Assume that each of the different recipes makes the same quantity of cookies.)

Recipe # X Recipe # X Recipe # X Recipe # X
1 1 16 2 31 3 46 2
2 5 17 2 32 4 47 2
3 2 18 4 33 5 48 11
4 5 19 6 34 6 49 5
5 6 20 1 35 6 50 5
6 1 21 6 36 1 51 4
7 2 22 5 37 1 52 6
8 6 23 2 38 2 53 5
9 5 24 5 39 1 54 1
10 2 25 1 40 6 55 1
11 5 26 6 41 1 56 2
12 1 27 4 42 6 57 4
13 1 28 1 43 2 58 3
14 3 29 6 44 6 59 6
15 2 30 2 45 2 60 5

Calculate the following:

  1. μ x = _______
  2. σ x = _______

Collect the data

Use a random number generator to randomly select four samples of size n = 5 from the given population. Record your samples in [link] . Then, for each sample, calculate the mean to the nearest tenth. Record them in the spaces provided. Record the sample means for the rest of the class.

  1. Complete the table:
    Sample 1 Sample 2 Sample 3 Sample 4 Sample means from other groups:
    Means: x ¯ = ____ x ¯ = ____ x ¯ = ____ x ¯ = ____
  2. Calculate the following:
    1. x ¯ = _______
    2. s x ¯ = _______
  3. Again, use a random number generator to randomly select four samples from the population. This time, make the samples of size n = 10. Record the samples in [link] . As before, for each sample, calculate the mean to the nearest tenth. Record them in the spaces provided. Record the sample means for the rest of the class.
    Sample 1 Sample 2 Sample 3 Sample 4 Sample means from other groups
    Means: x ¯ = ____ x ¯ = ____ x ¯ = ____ x ¯ = ____
  4. Calculate the following:
    1. x ¯ = ______
    2. s x ¯ = ______
  5. For the original population, construct a histogram. Make intervals with a bar width of one day. Sketch the graph using a ruler and pencil. Scale the axes.
    This is a blank graph template. The horizontal axis is labeled Time (days) and the vertical axis is labeled Frequency.
  6. 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.

    Repeat the procedure for n = 5

  1. For the sample of n = 5 days averaged together, construct a histogram of the averages (your means together with the means of the other groups). Make intervals with bar widths of 1 2 a day. Sketch the graph using a ruler and pencil. Scale the axes.
    This is a blank graph template. The horizontal axis is labeled Time (days) and the vertical axis is labeled Frequency.
  2. 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.

    Repeat the procedure for n = 10

  1. For the sample of n = 10 days averaged together, construct a histogram of the averages (your means together with the means of the other groups). Make intervals with bar widths of 1 2 a day. Sketch the graph using a ruler and pencil. Scale the axes.
    This is a blank graph template. The horizontal axis is labeled Time (days) and the vertical axis is labeled Frequency.
  2. 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.

    Discussion questions

  1. Compare the three histograms you have made, the one for the population and the two for the sample means. In three to five sentences, describe the similarities and differences.
  2. State the theoretical (according to the clt) distributions for the sample means.
    1. n = 5: x ¯ ~ _____(_____,_____)
    2. n = 10: x ¯ ~ _____(_____,_____)
  3. Are the sample means for n = 5 and n = 10 “close” to the theoretical mean, μ x ? Explain why or why not.
  4. Which of the two distributions of sample means has the smaller standard deviation? Why?
  5. As n changed, why did the shape of the distribution of the data change? Use one to two complete sentences to explain what happened.

Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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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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