Mean Wealth

(I) The data in the table represents the wealth, in billions of dollars, of 6 people.

17 24

17 23

21 29

Calculate the mean wealth

(II) For sample of size 5, construct a table of all possible samples and their sample means.

Wealth x

17,24,17,23,21

17,24,17,23,29

17,24,17,21,29

17,24,23,21,29

17,17,23,21,29

24,17,23,21,29

(b) For a random sample of size 5, what is the chance that the sample mean will equal the population mean? The probability is

(c) For a random sample of size 5, determine the probability that the mean wealth of the 5 people obtain will be within 1($1 billion) of the population mean.

Question

Exercises 17.39
Perform the Durbin–Watson test at the 5% significance level to determine whether positive first-order autocorrelation exists when d = 1.10, n = 25, and k = 3.

Exercises 17.42
Test the following hypotheses with α = .05
H0: There is no first-order autocorrelation
H1: There is positive first-order autocorrelation
N = 50 K = 2 d = 1.28

Exercise 20.35

The following trend line and seasonal indexes were computed from 4 weeks of daily observations. Forecast the 7 values for next week.
Ŷ = 1220 + 2.3 t = 1, 2, . . ., 28 Day Sun Mon Tue Wed Thu Fri Sat 1.5 0.4 0.5 0.6 0.7 1.4 1.9