Midterm 3

Question 1

Central Limit Theorem (CLT)

Answer 1

The mean of a random sample taken from a population can be depicted as a continuous random variable. Furthermore, if the sample is sufficiently large, (n > = 30) we know this random variable will be randomly distributed.
Mean = population mean
Stdev = Standard error = Population Stdev /sqrt (sample size)

Question 2

assume we have a population with a mean = 100 and a population stdev = 40. Assume we randomly sample 50 individuals from
this population. What is the probability the average of our sample will be less than 95?