BUEC 232 Lecture Notes - Lecture 14: Central Limit Theorem, Sampling Distribution, Sample Space

• School: Simon Fraser University
• Department: Business Economics
• Course: BUEC 232
• Professor: Andrew Flostrand

Document Summary

The area between to z= -1 and z=0 is 0. 3413. Therefore, 15. 87% of all the possible samples of size n=25 have a sample mean below 365 grams. **it is easier to figure out answers for these types of questions when you draw out a bell curve and label it. Determining an interval that includes a fixed proportion of all the possible sample means. Use z table and look up the value. Of 95% is 47. 5% (because the distribution is symmetric-same distance above and below the mean) **know what it is and know how to use it!! Used when the population is not normal. Any population distribution shape is determined by the sample space (n) Any: n>30 will give a distribution that is nearly normal. Normal: sampling distribution of the mean is always normally distributed. Note that population distribution was weird, but got back to normal distribution at the end: population sample distribution.