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Statistics Assignment | Standard Deviation Assignment

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Added on  2020-05-03

Statistics Assignment | Standard Deviation Assignment

   Added on 2020-05-03

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Statistics Assignment | Standard Deviation Assignment_1
STATISTICSa)The various random samples have been selected and the GDP/capita has been computed.Further, the mean of the 10 samples is as highlighted below.SAMPLEMEAN 117.23219.15313.20415.76514.44611.26713.62813.43913.181014.84The standard deviation of the above 10 values has been computed as 2.27. Also, therespective mean of the above 10 GDP/capita comes out as 14.61. The respective meanGDP/capita and population standard deviation has been computed as 14.95 and 8.97. It isapparent from the above values that while the sample mean is close to the population meanbut the same cannot be said about the standard deviation. The population data tends torepresent countries which are significantly different from each other which is why thestandard deviation is higher. However, for the sample considering the averaging effect on themean values, the standard deviation was bound to be low. This is because the standarddeviation has not been computed on absolute values of the countries but rather the averagevalues of sample of 10 values which tends to lower the overall dispersion through averagingeffect. Thus, if the raw data would have been taken for standard deviation computation ofsample, then it is possible that the results obtained would not be so different.b)The requisite histogram for 10 sample means is indicated below.
Statistics Assignment | Standard Deviation Assignment_2

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