Consider a population consisting of 3, 6, 7, 9, 10, 4, and 8. Suppose samples of size 2 are drawn from this population. Describe the sampling distribution of sample means. What is the standard deviation of the sampling distribution? NOTE: EXPRESS YOUR ANSWER INTO 4 DECIMAL PLACE VALUES
Here population size : "N =7" and we have to draw a sample of size 2
So, there are "^{N}C_n" possible samples that is, "^{7}C_2=21"
Mean of population "(\\mu)" = "\\dfrac{3+6+7+9+10+4+8}{7}=\\dfrac{47}{7}\\approx6.7143"
Variance of population
"+\\dfrac{256}{49}+\\dfrac{529}{49}+\\dfrac{361}{49}+\\dfrac{81}{49})"
"=\\dfrac{1932}{343}"
Mean of sampling distribution
"\\mu_{\\bar{x}}=E(\\bar{x})=\\sum\\bar{x}_if(\\bar{x}_i)=\\dfrac{47}{7}=\\mu"The variance of sampling distribution
"Var(\\bar{x})=\\sigma^2_{\\bar{x}}=\\sum\\bar{x}_i^2f(\\bar{x}_i)-\\big[\\sum\\bar{x}_if(\\bar{x}_i)\\big]^2""=\\dfrac{332}{7}-\\dfrac{2209}{49}=\\dfrac{115}{49}= \\dfrac{\\sigma^2}{n}(\\dfrac{N-n}{N-1})""\\sigma_{\\bar{x}}=\\sqrt{\\dfrac{115}{49}}\\approx1.5320"
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