(See Solution) Consider the following list: 2,3,5,6. Suppose 400 random draws were made with replacement. Find the expected sum of the 400 draws. Find the
Question: Consider the following list: {2,3,5,6}. Suppose 400 random draws were made with replacement.
- Find the expected sum of the 400 draws. Find the standard error for the sum. (Hint: the SD of the box is 1.58)
- Find the expected average of the 400 draws. Find the standard error for the average.
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