MKTG 320 Chapter Notes - Chapter 12: Confidence Interval, Statistical Power, Central Limit Theorem
Document Summary
Central limit theorem: the idea that a distribution of a large number of sample means or sampling proportions will approximate a normal distribution regardless of the distribution of the population from which they are drawn. Normal distribution: a continuous distribution that is bell shaped and a symmetric about the means, median and mode are equal. Proportional property of normal distribution: a feature that the number of observations falling between the mean and a given number of standard deviations from the mean is the same for all distributions. Standard normal distribution: a normal distribution with a mean of zero and a standard deviation of one. Population distribution: a frequency distribution of all elements of a population. Sample distribution: a frequency distribution of all the elements of an individual sample. Sampling distribution of the mean: a theoretical frequency distribution of the means of all possible samples of a given size drawn from a particular population: it is normally distributed.
