Economics Academic Essay

A particular brand of dishwasher soap is sold in three sizes: 30 oz, 45 oz, and 65 oz. Twenty percent of all purchasers select a 30-oz box, 50% select a 45-oz box, and the remaining 30% choose a 65-oz box. Let X1 and X2 denote the package sizes selected by two independently selected purchasers. (a) Determine the sampling distribution of X. x 30 37.5 45 47.5 55 65 p(x) Calculate E(X). E(X) = oz Compare E(X) to µ. E(X) > µ E(X) < µ E(X) = µ (b) Determine the sampling distribution of the sample variance S2. s2 0 112.5 200 612.5 p(s2) Calculate E(S2). E(S2) = Compare E(S2) to s2. E(S2) < s2 E(S2) = s2 E(S2) > s2

 

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