The Central Limit Theorem Is Important in Statistics Because _____

question 10

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

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Definitions:

Federal Revenues

The income received by the federal government from taxes, fees, and other sources used to fund government operations and programs.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Import Quota

A government-imposed limit on the quantity or monetary value of a certain good that can be imported into the country.

World Price

The international market price of a good or service, determined through the global supply and demand.