The Central Limit Theorem Is Important in Statistics Because

question 26

Multiple Choice

The Central Limit Theorem is important in statistics because

• A)for a large n,it says the population is approximately normal.
• 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 sampling distribution of the sample mean is approximately normal,regardless of the shape of the population.
• D)for any sized sample,it says the sampling distribution of the sample mean is approximately normal.

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Definitions:

Input

Resources such as labor, materials, and capital that are used in the production process to create goods and services.

Derived Demand

is the demand for a good or service that results from the demand for another good or service. For instance, the demand for steel is derived from the demand for cars.

Factors of Production

The resources of land, labor, capital, and entrepreneurial ability.

Final Goods

Products that have completed the manufacturing process and are ready to be used or consumed by the end-user.