Assuming that you are using sampling without replacement


A population consists of only four individuals identified as A, B, C, and D. Your job is to select a random sample of two individuals from this population.

a. Assuming that you are using sampling without replacement, list all of the possible random samples that could be obtained.

(Hint #1: List the samplessy stematically; for example, begin with all of the samples with individual A as the first person selected.

Hint #2: If the same people are selected in two different orders, it counts as two different samples.

For example, if A is selected first, then B, it is a different sample than if B were selected first, then A.

Hint #3: You should obtain 12 different samples.)

b. Assuming that you are using sampling with replacement, list all of the possible random samples that could be obtained.

Note: The same hints apply as in part a, except that you should now obtain 16 different samples.

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Finance Basics: Assuming that you are using sampling without replacement
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