Explain characteristics as the central limit theorem

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Reference no: EM13126779

Why is the population shape a concern when estimating a mean? What effect does sample size, n, have on the estimate of the mean? Is it possible to normalize the data when the population shape has a known skew? How would you demonstrate the central limit theorem to your classmates?

Why do so many of life's events share the same characteristics as the central limit theorem? Why are estimations and confidence intervals important? When might systematic sampling be biased? Explain. What roles do confidence intervals and estimation play in the selection of sample size?

What do confidence intervals represent? What is the most controllable method of increasing the precision of or narrowing the confidence interval? What percentage of times will the mean, or population proportion, not be found within the confidence interval?

Reference no: EM13126779

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