BUS 295 Lecture Notes - Lecture 15: Central Limit Theorem, Sampling Distribution, Standard Score
Document Summary
Sampling distribution of the mean: standard error of the mean. Different samples of the same size (n) from the same population will yield different sample means. The measure of variability in mean from sample to sample is given by standard error of the mean (assuming it is with replacement) Sampling distribution of the mean: if the population is normal. If a population is normal with mean u and standard deviation o, the sampling distribution of is also normally distributed with. Determining an interval including a fixed proportion of sample means. Find a symmetrically distributed interval around that will include 95% of sample means. 5% of sample means will be outside interval, 2. 5% on upper limit and lower limit. When = 368, = 15, and n = 25 and population is normal. From the standardized normal table, the z score with 2. 5% (0. 0250) below it is -1. 96 and the z score with 2. 5% (0. 0250) above it is 1. 96.
