Statistics Problem

Question

A certain newspaper provides the net asset value, the year-to-date percent return, and the three-year percent return for 882 mutual funds at the end of 2017. Assume that a simple random sample of 12 of the 882 mutual funds will be selected for a follow-up study on the size and performance of mutual funds. Use the ninth column of the table of random numbers, beginning with 13554, to select the simple random sample of 12 mutual funds. Begin with mutual fund 554 and use the last three digits in each row of column 9 for your selection process. What are the numbers of the 12 mutual funds in the simple random sample? (Enter your answers as a comma-separated list.)

Answer 1

Hi Steele,

Looking at final three digits starting in column 9 at 13554, we want five numbers with last three digits between "001" and "882" since we have 882 total mutual funds. So, first number is 554. Continuing down column 9, 459 is next, then 147, 385, and 689. So far, we have selected funds: 554, 459, 147, 385, and 689. That's five. Continuing down column 9:

Next three are: 640, 143, and 340. So far, no repeats and nothing above 882, so we keep going. Next up is 756. We now have 9 funds:

554, 459,147,385,689,640,143,340,756

Next value down column 9 is 953. Too high. We can't include it. Next values are 401, 827, and 653. All are between 1 and 882, so we now have our sample. We use funds numbered:

554, 459, 147, 385, 689, 640, 143, 340, 756, 401, 827, 653

I hope this helps.