Question 2
If we're interested in estimating the average living area of homes in Ames using the sample, our best single guess is the sample mean: mean(samp1).
Depending on which 50 homes you selected, your estimate could be a bit above or a bit below the true population mean of approximately 1,500 square feet. In general, though, the sample mean turns out to be a pretty good estimate of the average living area, and we were able to get it by sampling less than 3% of the population.
Suppose we took two more samples, one of size 100 and one of size 1000. Which would you think would provide a more accurate estimate of the population mean?
This exercise is part of the course
Data Analysis and Statistical Inference
Exercise instructions
Sample size of 50,Sample size of 100,Sample size of 1000
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