EXST 2201: EXAM 2 QUESTIONS AND VERIFIED
ANSWERS LATEST UPDATE
sampling distribution a probability density curve of all possible values of a statistic computed from a sample size n law of large numbers as the sample size gets larger, the difference between the sample average and the population mean gets smaller sampling distribution of the sample average if data is distributed normally with mean μ and standard deviation σ, then the average of a sample size n will be distributed normally with mean μ and standard deviation σ/√n standard error of the mean the standard deviation of the sample average(σx = σ/√n) central limit theorem when there are at least 30 data points, the sample average will follow the normal shape, have mean μ, and standard deviation σ/√n t-transformation converts a sample average into a t-statistic point estimate of a population parameter the value of a statistic used to estimate the population parameter properties of a good estimator
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