What Is the Probability of a Sample Mean Below Z

question 39

Short Answer

What is the probability of a sample mean below z = +1.2?

Grasp the concept of diminishing returns and its implications for economic growth.

Distinguish between physical capital and human capital.

Understand the concept of constant returns to scale in production functions.

Understand the basic components and representations of a production function.

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Definitions:

Sampling Distribution

The probability distribution of a given random-sample-based statistic.

Histograms

Graphical displays of data that use bars of varying heights to show the frequency distribution of a dataset.

Unbiased

A characteristic of an estimator or a process where the expectation is equal to the true parameter value being estimated, without systematic error.

Statistic

A single measure, calculated from sample data, that is used to summarize or describe aspects of the data.