ECON1102 : ECON1202 - QMB Notes

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31 Jul 2015
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Week 8 qmb pass (cid:173)(cid:173) ssaammpplliinngg ddiissttrriibbuuttiioonn ooff tthhee ssaammppllee mmeeaann (cid:120) basically, the sampling distribution of a mean allows us to estimate the population parameter from the sample statistic. In order to use the sample statistic to estimate the parameter we need to standardize the (cid:120) (cid:120) statistics using the following terms: (cid:80)(cid:80) (cid:32)x. 2 (cid:86) (cid:32) x (cid:86) (cid:32) x (cid:86) n n or. If x is normal then x is normal. If x is non-normal, then x is approximately normal for sufficiently large sample sizes: a sample of 100 observations is drawn from a normal population, with (cid:32)(cid:86) and. 1000: the ceo of cadbury claims that the average weekly sales of freddo frogs are 600 boxes with a standard deviation of 100 boxes. A random sample of 25 supermarkets had average sales of 550 boxes, what would you conclude to be the validity of the ceo"s claims? (cid:173)(cid:173) cclltt ((cceennttrraall lliimmiitt tthheeoorreemm))