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Standardizing Normal Variables
Suppose we have a normal population. We can represent it by a normal variable X. Further, we can convert any value of X into a corresponding value Z of the standard normal variable, by using the formula
Where,
X = the value of any random variable
m = the mean of the distribution of the random variable
s = the standard deviation of the distribution
Z = the number of standard deviations from X to the mean of the distribution and is known as the Z score or standard score.
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Standard errors of the mean The series of sample means x¯ 1 , x¯ 2 , x¯ 3 ........ is normally distributed or nearly so as according to the central limit theorem. This can be
x
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