Find the population mean and the standard deviation

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Reference no: EM131884632

Assume that you have a box with an equal number of $4, $6, $8 chips.

a. Find the population mean and the standard deviation.

b. Taking samples of size n = 2, find the mean of the sample means and the standard deviation of the sample means.

c. Explain the relationships between the different means and the different standard deviations.

d. Above what value is the top 15.87% of the data?

e. Between what two values is the middle 95.44% of the sample means?

Reference no: EM131884632

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