Distribution of sample means

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Reference no: EM131561963

Question:

The distribution of sample means has the same mean as the underlying population, but the standard deviation differs. Use a real world scenario to explain why it makes sense the variation decreases as the sample size increases.

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This task provides a clear working example of central limit theorem. Central limit theorem states that, when the sample size increases, then the mean of the sampling distribution will be approximately equals to the population mean.

Reference no: EM131561963

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