Central Limit Theorem: A sampling distribution of the mean is approximately normally distributed if the sample size is sufficiently large. This is true no matter what the population distribution is.

Example 1: The population from which samples are selected is {1,2,3,4,5,6}. This population has a mean of 3.5 and a standard deviation of 1.70783. The next display shows a histogram of the population.

Describe the abstract idea of a sampling distribution and how it reflects the sample to sample variability of a sample statistic or point estimate. Identify the ...

The normal distribution (also known as the Gaussian distribution) is arguably the most important distribution in Statistics. It is often used to represent continuous random variables occurring in ...

We examine autoregressive time series models that are subject to regime switching. These shifts are determined by the outcome of an unobserved two-state indicator variable that follows a Markov ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. It's possible to ...