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Unformatted text preview: n i i X E 1 n i i X V 1 Probability distribution for n i i X 1 (name of the distribution) X E s.e. of Probability distribution for (name of the distribution) 1 2 5 30 100 .1 .2 .3-20-15-10-5 X mean:-10, s.d.:2 .1 .2 .3 5 10 15 20 Y mean:10, s.d.:2 (5) Consider rolling fifty die and creating a random variable that is the sum of the values shown. Find the continuous probability distribution that approximates this discrete probability distribution and give its parameters. (6) From Lecture 18 recall the claim of the small town in Ontario: Average House price in the town is $234,000 and the s.d. is $70,000. You have surveyed 49 houses in the town and found a sample mean of $270,000. If what the town says is true, 95% of the time the sample mean should be in what interval? Calculate that interval and interpret it. What can we conclude from the fact that 270,000 is not in the interval?...
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This note was uploaded on 03/01/2011 for the course ECON 220 taught by Professor Tanaka during the Spring '11 term at University of Toronto- Toronto.
- Spring '11