What is the Central Limit Theorem? How large should the sample size be if the underlying distribution of the population values are:
a. Normally distributed (discuss).
b. Non-normally distributed. (discuss)
1. Central limit theorem is stated as follows: If a random sample of n observations is selected from a population, then when n is sufficiently large, the sampling ...
The solution gives detailed analysis on validity of Central Limit Theorem and difference between the standard deviation of the sample and the standard error of the mean.