When we need to estimate the population mean, and the population

| November 19, 2015

When we need to estimate the population mean, and the population standard deviation is unknown, we are hit with a “double whammy” when it comes to the margin of error. Explain what the ”double whammy” is and why it occurs. (Hint: Consider the sources of variation in the margin of error) 

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What is the Central Limit Theorem? How is it used?
The colors of candies such as M&M’s are carefully chosen to match consumer preferences. The color of an M&M drawn at random from a bag has a probability distribution determined by the proportions of colors among all M&M’s of that type. (a) Here is the distribution for plain M&M’s: Color Brown Red Yellow Green Orange Blue Probability 0.3 0.2 0.2 0.1 0.1 ? What must be the probability of drawing a blue candy? (b) The probabilities for peanut M&M’s are a bit different. Here they are: Color Brown Red Yellow Green OrangeBlue Probability 0.2 0.2 0.2 0.1 0.1 ? What is the probability that a peanut M&M chosen at random is blue? (c) What is the probability that a plain M&M is any of red, yellow, or orange? What is the probability that a peanut M&M has one of these colors?

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