4.1. Two chips are drawn without replacement from an urn containing five chips, numbered 1 through 5
Question: 4.1. Two chips are drawn without replacement from an urn containing five chips, numbered 1 through 5. The average of the two drawn is to be used as an estimator, \(\tilde{\theta }\), for the true average of all the chips ( \(\theta \) = 3). Calculate \(\Pr \left( |\hat{\theta }-3|>1 \right)\)
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Solution Format: Word Document
Solution Format: Word Document