The Central Limit Theorem Is Considered Powerful in Statistics Because

question 18

Multiple Choice

The Central Limit Theorem is considered powerful in statistics because __________.

• A) it works for any population distribution provided the sample size is sufficiently large
• B) it works for any sample size provided the population is normal
• C) it works for any population distribution provided the population mean is known
• D) it works for any sample provided the population distribution is known

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Definitions:

Market Failure

A situation where the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

Pollution

The introduction of harmful substances or products into the environment, leading to adverse effects on human health, ecosystems, or buildings.

Deadweight Loss

The decline in economic productivity that happens when a good or service does not reach or cannot reach its equilibrium.

Tax

A required monetary fee or different kind of tax levied on a taxpayer by a government entity to finance government operations and a range of public expenses.