A population consists of the following five values: 12, 12, 14, 15, and 20. a. List all samples of size 3, and compute the mean of each sample. b. Compute the mean of the distribution of sample means and the population mean. Compare the two values. c. Compare the dispersion in the population with that of the sample means

ST 701: Week 1 Notes MaLyn Lawhorn August 17, 2017 Probability Theoretical Basics ▯ In the words of Bruno de Finetti, ”Probability does not exist!” ▯ This means that probability is an idea that is relative to individuals beliefs, available infor- mation, etc. ▯ Therefore, it is possible when two people conduct two separate experiments about the same probability, they can get different answers. ▯ Probabilities, then, can be manipulated fairly easily but not as easily evaluated. Example 1 Consider the probabilities given on T.V. during the election that supposedly told us how likely a given candidate was to win the presidency. Trump Clinton