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:
μ
x = _______
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.
Complete the table:
Sample 1
Sample 2
Sample 3
Sample 4
Sample means from other groups:
Means:
= ____
= ____
= ____
= ____
Calculate the following:
= _______
s = _______
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:
= ____
= ____
= ____
= ____
Calculate the following:
= ______
s = ______
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.
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
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
a day. Sketch the graph using a ruler and pencil. Scale the axes.
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
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
a day. Sketch the graph using a ruler and pencil. Scale the axes.
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
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.
State the theoretical (according to the clt) distributions for the sample means.
n = 5:
~ _____(_____,_____)
n = 10:
~ _____(_____,_____)
Are the sample means for
n = 5 and
n = 10 “close” to the theoretical mean,
μ
x ? Explain why or why not.
Which of the two distributions of sample means has the smaller standard deviation? Why?
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.
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?
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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