The effect of increasing the sample size. The data for

Chapter , Problem 16.34

(choose chapter or problem)

The effect of increasing the sample size. The data for Example 16.1 (page 16-3) are the times tostart a business for a random sample of 50 countries.The entire survey included 185 countries. The distribution of times is very non-Normal. A histogram with a smooth density curve is given in Figure 1.19(a) (page 54). However, for this histogram we excluded one country, Suriname, where it takes 694 days to start a business. Exclude Suriname from the data set and use the remaining data for the remaining 184 countries. TIME184 (a) Lets think of the 184 countries as the population forthis exercise. Find the mean m and the standard deviation s for this population. (b) Although we dont know the shape of the sampling distribution of the sample mean x for a sample of size n from this population, we do know the mean and standard deviation of this distribution. What are they? (c) Draw an SRS of size n 10 from this population. Bootstrap the sample mean x using 2000 resamples from your sample. Give a histogram of the bootstrap distribution and the bootstrap standard error. (d) Repeat the same process for samples of sizes n 40 and n 160. (e) Write a careful description comparing the three bootstrap distributions. What are the effects of increasing the sample size?