What Is the Central Limit Theorem? How Does This Theorem

question 22

Essay

What is the central limit theorem? How does this theorem justify the use of random samples?

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Definitions:

Entrepreneurs

Individuals who organize, manage, and assume the risks of a business or enterprise, often introducing new products or services.

Production Techniques

The methods or processes used in the creation or manufacture of goods and services.

Costs

The expense required for something; the money spent on or needed for a project, product, or service.

Profit-Seeking Decision Maker

An individual or entity focused on making decisions that are expected to result in the highest possible profit.