Could you please explain Central Limit Theorem to me in layman's terms and then read the article linked below and detail how it was used therein? Thank you.
http://www.tandfonline.com/doi/abs/10.1080/02664761003692308?journalCode=cjas20#.UdSZ1fnVCuk© BrainMass Inc. brainmass.com July 21, 2018, 9:49 am ad1c9bdddf
Central limit theorem: If number of independent random variables is very large, their distribution tends to become nearly normal distribution. E.g., If we have a have coin and tossed twice or thrice or so forth, ...
Central limit theorem is explained in layman's terms.