The Central Limit Theorem Is Important in Statistics Because _____

question 48

Multiple Choice

The Central Limit Theorem is important in statistics because _____.

• A) for a large n, it says the sampling distribution of the sample mean is approximately normal, regardless of the population
• B) for any population, it says the sampling distribution of the sample mean is approximately normal, regardless of the sample size
• C) for a large n, it says the population is approximately normal
• D) for any size sample, it says the sampling distribution of the sample mean is approximately normal

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Definitions:

Technological Changes

Innovations or improvements in technology that affect productivity, efficiency, and competitiveness in an industry or economy.

Index Number

A statistical measure that shows changes in a variable or group of variables over time, often used for economic data analysis.

Parity Concept

A principle stating that different currencies should have the same purchasing power in different countries, once adjusted for exchange rates.

Parity Ratio

The ratio between the prices of various goods or services, often used in agriculture and trade to compare values.