What is the variance of the sample mean

Reference no: EM13174364

A random sample of 10 economists produced the following forecasts for
percentage growth in real domestic product in the next year:
2.2 2.8 3.0 2.5 2.4 2.6 2.5 2.4 2.7 2.6
Use unbiased estimation procedures to nd point estimates for the fol-
lowing:
(a) The population mean?
(b) The population variance?
(c) The variance of the sample mean
(d) The population proportion of economists predicting growth of at least 2.5% in real gross domestic product
(e) The variance of the sample proportion of economists predicting growth of at least 2.5% in real gross domestic production.

Reference no: EM13174364

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